Woolstores Office Investment
Huntley Street, Alexandria
Unique heritage office asset in central South Sydney location
The three former woolstores were converted, rebuilt and refurbished into high quality office accommodation with unique heritage attributes. The property also includes a cafe and parking for 151 vehicles.
RF Corval purchased the property during construction in 2015 from a developer who had leased the property to 80% and needed a capital partner to complete the development, drive leasing and provide an institutional quality management framework for the property. Over the 7 years of ownership RF Corval sustained high levels of occupancy to a range of high quality tenants and made ongoing property and sustainability enhancements before ultimately selling the property and realising this value for investors in June 2022.
Address
Huntley Street, Alexandria NSW
Purchase Date
April 2015
Purchase Price
$52m
Building Size
10,000sqm
Sale Date
June 2022
Sale Price
$110m
Equity IRR
21%