The building housing one of Sydney’s most well known and iconic gay nightclubs ARQ, has been listed for sale after the club has been closed to patrons since March 2020 due to Covid-19.
Although the property, housing ARQ Nightclub, along with several neighbouring businesses, was up for sale briefly in August, it has now been listed with Commercial Property sellers Savills Australia and CBRE.
For more than 3 decades the building has been owned by Shadd Daniel Danesi, and is marketed as an opportunity to develop a high end mixed-use precinct with industry experts suggesting to Real Commercial that the site would likely sell for circa $50 million(AUD).
The 1230sqm compound fronting 10-24 Flinders St and 4-10 Taylor St in the inner Sydney suburb of Darlinghurst may be purchased fully tenanted or as a vacant possession.
Nick Lower from Savills Australia said it was a rare opportunity to secure a significant landholding in Darlinghurst that had been owned for three decades.
“This is an ultimate acquisition in any portfolio,” he said.
The City of Sydney is currently undertaking a strategic review of the local planning controls, earmarking Oxford Street as a key priority area for renewal and revitalisation.
This means the incoming owner will have lots of options for the venue including more apartments.
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Harry George of CBRE said the proposed changes to planning rules will allow for taller buildings along Oxford Street, in a bid to transform the tired strip into a massive cultural and creative precinct.
“ARQ represents an extremely rare opportunity for an incoming purchaser to secure a property within one of Sydney’s finest inner-city suburb,” George said.
The property is exclusively for sale by Expressions of Interest through Savills Australia and CBRE here.
Last Updated on Sep 7, 2021
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