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Amalgamated Development Site Hits the Market in Potts Point

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Owners of four buildings have come together to sell a sizeable 2170sq m parcel located in Sydney inner eastern suburb of Potts Point.

The amalgamated Potts Point sites, which sit within a mixed-use zone, comprise four buildings across 87-93 Macleay Street and 10-12 Hughes Street.

The sites come to market without development approval and with expectations a sale could achieve north of $100 million, according to industry sources.

JLL’s Michael Khouri and Ben Hunter along with Richardson & Wrench’s Jason Boon will market the sale through an international expressions-of-interest campaign.

“It’s one of the most prominent eastern suburbs sites to be offered in years,” Hunter said.

“We expect to attract a wide array of major local and international developers.”

Related: Event Unveils $250m QT Hotel Extension

91-93 Macleay Street Potts Point
91-93 Macleay Street Potts Point


The two apartment buildings at 91-93 Macleay Street and 10-12 Hughes Street, were initially brought to market in June, but the two adjoining properties, 87 and 89 Macleay Street, have since been added to Sydney’s inner eastern offering.

“Initially, the owners of two apartment buildings united to sell the assets as an amalgamated site,” Khouri said.

“Strong early interest around the upcoming listing resulted in the owners of two more buildings [87 and 89 Macleay Street] coming on board.”

Known as AXUS Potts Point, comprising 34 apartments and seven retail spaces, the five-storey building at 91-93 Macleay Street spans a 939.6sq m block and is zoned mixed use.

A three-storey brick building comprises nine apartments at 10-12 Hughes Street on a 302sq m holding.

While 87 and 89 Macleay Street comprises two double-storey adjoining buildings including two ground-floor retail tenancies, backpacker accommodation and residential units.

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Article originally posted at: https://theurbandeveloper.com/articles/amalgamated-development-site-hits-market-in-potts-point