FOR SALE
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388-390 Sussex Street
Sydney NSW 2000

Bedrooms: -
Bathrooms: -
Car spaces: 7
Floor area: 1288m2
Land area: 363m2
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Sydney CBD DA Approved Hotel Development Site

Ray White Commercial Eastern Suburbs, Ray White Double Bay and Colliers Investment Services are pleased to present to market 388-390 Sussex St, Sydney, which is being sold via Public Auction.
Located in Sydney CBD's Southern precinct, 388-390 Sussex Street is a 6 level mixed use commercial building constructed in 1979, comprising 1 x ground floor retail premises, four levels of office floor space and one level of secure parking for up to 7 cars.
This property offers prospective purchasers the opportunity to capitalise on the recently approved development application to construct a new 15 storey luxury hotel accommodating 140 rooms, 3 basement levels, public art and public domain improvements.
Strategically positioned between Chinatown and Sydney's core business district. The property enjoys two street frontages being Sussex Street and Eagar Lane, sitting on a single allotment of 363m2 (approx.)
Key Property Highlights
Prime corner site of 363m2 (approx.)
Existing NLA of 1,288m2 including ground floor retail, car park for 7 vehicles, and 4 floors of upper level office space
Approved GFA: 3301m2 (approx.) for 140 room hotel conversion
Possible alternative uses (subject to council approval)
Ideal for owner occupier or astute investor
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Property Details for 388-390 Sussex St, Sydney

Building Type
Commercial
Floor Size
1288m2
Land Size
363m2

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About Sydney 2000

The size of Sydney is approximately 3 square kilometres. It has 16 parks covering nearly 33.5% of total area. The population of Sydney in 2011 was 14,307 people. By 2016 the population was 17,261 showing a population growth of 20.6% in the area during that time. The predominant age group in Sydney is 20-29 years. Households in Sydney are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Sydney work in a professional occupation. In 2011, 33.6% of the homes in Sydney were owner-occupied compared with 29.1% in 2016.

Sydney has 23,924 properties. Over the last 5 years, Houses in Sydney have seen a -31.09% decrease in median value, while Units have seen a 2.23% increase. As at 30 September 2024:

  • The median value for Houses in Sydney is $1,121,984 while the median value for Units is $1,140,454.
  • Houses have a median rent of $825 while Units have a median rent of $950.
There are currently 191 properties listed for sale, and 330 properties listed for rent in Sydney on OnTheHouse. According to CoreLogic's data, 664 properties were sold in the past 12 months in Sydney.

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