After it was reported last month that the buildings currently home to Arq Nightclub and Bodyline Sauna in Darlinghurst were briefly listed on the market before it was pulled, the sale appears to be back on.

Previously listed by VIN Commercial, the owner Shadd Daniel Danesi has now switched listing agents. The buildings at 4-24 Flinders Street, 2 Sturt Street & 4-10 Taylor Street Darlinghurst have been re-listed to be sold by expression of interest by Savills Australia in partnership with CBRE.

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With a combined site area of approximately 1,230square metres, the sale is to proceed as either a vacant possession or fully tenanted. Realcommercial.com.au cited industry experts who said that site would sell for around $45-50 million.

Offered For Sale For The First time In 30 Years

ARQ Sydney. Image: Facebook

“Being the first time offered for sale in 30 years, these properties offer a rare opportunity to secure a significant landholding of numerous freehold assets occupying a prime and well-known position on one of Sydney’s most iconic thoroughfares. This is an ultimate acquisition in any portfolio,” said Nick Lower, State Director, NSW & VIC Hotels at Savills Australia via a written statement on the company’s website.

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As reported by Star Observer last month, staff at ARQ were stood down during Sydney’s 2020 lockdown. Earlier this year, renovators were contracted to commence on ‘cosmetic renovations’ to ARQ – these plans were put on hold at the start of the most recent Sydney lockdown.

The site is zoned B2 Local Centre under the Sydney Local Environmental Plan 2012. It has a maximum permissible building height of 15m-18m on each site respectively, However  in light of the new Oxford Street LEP, and the higher density developments currently favoured by City of Sydney, the fate of these building will likely see them developed, leaving the legacy of one of Australia’s longest running gay clubs in jeopardy.

Proposed Planning Changes For Taller Buildings Along Oxford Street

Arq. Image: Facebook

Confirming this Harry George Associate Director – Capital Markets at CBRE has said that “The City of Sydney is currently undertaking a strategic review of the planning controls that govern the local area with the aim of future proofing the area as a vibrant cultural and creative precinct.

“The proposed changes to planning rules will allow for taller buildings along Oxford Street, in a bid to transform the tired strip into a massive cultural and creative precinct.

George added that “ARQ represents an extremely rare opportunity for an incoming purchaser to secure a property within one of Sydney’s finest inner-city suburbs”

 

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