Chatswood retail complex fetches $16m
The site at 426-430 Victoria Avenue was bought by the NSW government during the planning and construction phases of the interchange. Transport for NSW renovated and refurbished the site, and leased the two adjoining buildings to maximise the sale price. It was sold to a private investor.
The selling agents, CBRE's Tim Grosmann and Sashi Makkapati, said the complex was fully leased with a total lettable area of 1346 square metres.
"Chatswood mall and the surrounding retail areas within Chatswood CBD rank among the most successful retail locations in Australia," Mr Makkapati said.
"Investor demand for prime retail properties remains high and purchasers are willing to pay a premium price to gain a foothold in established retail precincts."
Chatswood's leasing market has shown signs of improvement recently.
The latest report on the north shore from Savills suggested the overall vacancy rate did not reflect the state of the market for users of large areas of top-grade space.
The report showed north shore tenants looking for 2500 square metres or more of quality, connected space have only a handful of options in the lower north shore precincts of Crows Nest, St Leonards, North Sydney and Chatswood.
Frequently Asked Questions about this Article…
Transport for NSW raised $16 million from the sale of the revamped retail and commercial complex next to the Chatswood Transport Interchange.
The complex is located at 426–430 Victoria Avenue, next to the Chatswood Transport Interchange in the Chatswood CBD.
The complex was sold by Transport for NSW to a private investor. The selling agents were CBRE's Tim Grosmann and Sashi Makkapati.
The complex has a total lettable area of 1,346 square metres and was fully leased at the time of sale.
Yes. The NSW government bought the site during planning and construction of the interchange; Transport for NSW renovated and refurbished the site and leased the two adjoining buildings to maximise the sale price.
CBRE's Sashi Makkapati said Chatswood mall and the surrounding retail areas in the Chatswood CBD rank among the most successful retail locations in Australia, and that investor demand for prime retail properties remains high with purchasers willing to pay a premium for established precincts.
The Savills report suggested the overall north shore vacancy rate did not reflect the market for users seeking large areas of top‑grade space. Tenants looking for about 2,500 square metres or more of quality, connected space have only a handful of options across lower north shore precincts like Crows Nest, St Leonards, North Sydney and Chatswood.
The sale—of a fully leased, refurbished retail complex for $16 million—underscores strong investor demand for prime retail properties in established precincts, with buyers prepared to pay premium prices to secure a foothold in successful retail locations such as Chatswood.
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