Phoenix always seeks to acquire prime properties and has partnered
with a reputable local developer to acquire an office development
site within the North Sydney CBD where there is limited supply.
The Blue Street commercial office development is a joint venture
with a local experienced developer and will be a distinctive
commercial office building that maximises on the potential of the
local North Sydney work and lifestyle.
The property is located within the North Sydney business district
and is within a short walking distance of the local train station,
retail amenity, and excellent food and beverage offerings. The
development will utilise rich, natural materiality, usable,
planted outdoor spaces that flow seamlessly to indoors. The
materiality reflects the local character and is sympathetic to the
surrounding architecture.
Landscape terraced faced by double height facades provide visual
and physical connection from the workplace to outdoor open space.
All spaces are designed to either create a new and unique outlook
or take advantage of the incredible views to the harbour and city.
Facades respond to create a workplace highly attuned to the
context and environment.
We are pleased to report that the substantial market interest in a
purchase of the site ‘as-is’ allowed us the opportunity to
capitalise on our investment and realise a higher return in the
short term.
After numerous discussions with interested parties, Phoenix
finalized the sale of the development to a reputable local
institutional buyer at a remunerative price. The investment was
exited earlier than the original underwriting, and achieved a
remarkably high return.
