Government Property NSW Sells Pyrmont Site For $22.4m

Government Property NSW has sold 108 Miller Street in Pyrmont for $22.4 million to real estate developer, Thirdi Group.

With prominent frontages to Miller and Mount Street and a total land area of 1,846 sqm the site has the potential for approximately 50 residential apartments plus ground floor retail component (STCA).

Selling agent Stuart Cox of Savills said that they fielded over 170 enquiries on the site over the course of the campaign with interest coming from local, interstate and offshore residential developers all interested in securing this boutique site.

"This site combined a remarkable location with exceptional potential for luxury residential apartments which attracted a multitude of enquiries from local and international developers," he said.

"With a current median unit price of $950,000 in Pyrmont and the preference for inner city apartment living prices are expected to achieve over 18,000/sqm of NSA."108 Miller Street is situated within a well-established tightly held premium inner city suburb where very few opportunities become available. Located 1.3km from the Sydney CBD, it is within walking distance to The Star Sydney Casino and Hotel, the Sydney Fish Market, Darling Harbour, Barangaroo, Jones Bay Wharf and Cockle Bay.

Pyrmont offers cafes, bakeries and restaurants on Miller Street, as well as world renowned dining at The Star Casino. It is serviced by Sydney's Light Rail network with four stations within walking distance of the property, all providing direct access to the Sydney CBD as well as Sydney's outer western suburbs.