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27-29 King St - Metro Apartments On King 279 SF Retail Condo Unit Offered at $1,063,328 in Sydney, NSW 2000
Investment Highlights
- Prominent King Street frontage with high pedestrian and vehicle exposure.
- Excellent access to Light Rail and Wynyard Station.
- Surrounded by major destinations including The Grace Hotel, Slip Inn, and Barangaroo.
- High-exposure location surrounded by a vibrant mix of office towers, hotels, bars, and transport links.
Executive Summary
Kingsleigh is located on King Street in Sydney’s western CBD core, an area characterized by a mix of hotels, and hospitality venues and commercial retail unit on the ground floor. It is within close proximity to The Grace Hotel, Slip Inn, and George Street Light Rail, and is easily accessible from Wynyard Station. The site is also within walking distance of Barangaroo, Darling Harbour, and Martin Place.
Property Facts
| Total Building Size | 18,245 SF | Floors | 10 |
| Property Type | Hospitality (Condo) | Typical Floor Size | 1,830 SF |
| Property Subtype | Serviced Apartment | Year Built | 1983 |
| Building Class | B |
| Total Building Size | 18,245 SF |
| Property Type | Hospitality (Condo) |
| Property Subtype | Serviced Apartment |
| Building Class | B |
| Floors | 10 |
| Typical Floor Size | 1,830 SF |
| Year Built | 1983 |
Amenities
- Balcony
- Business Center
- Pool
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 6 | $233.37 | 431 |
1 Unit Available
Unit 26
| Unit Size | 279 SF | Sale Type | Investment |
| Price | $1,063,328 | Cap Rate | 6.50% |
| Price Per SF | $3,811.21 | NOI | $69,116.31 |
| Condo Use | Retail | APN/Parcel ID | CP/SP47116 |
| Unit Size | 279 SF |
| Price | $1,063,328 |
| Price Per SF | $3,811.21 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| NOI | $69,116.31 |
| APN/Parcel ID | CP/SP47116 |
Description
The asset comprises a ground-floor retail shop and three storage cages within the “Kingsleigh” mixed-use building, totaling 47 sqm. The retail shop internal area is 35 sqm- Lot 26, and Lot 30,33 and 37- storage cages are 4, 3 and 5 sqm.
Sale Notes
This offering presents a rare opportunity to secure a high-performing retail investment in the heart of Sydney’s CBD. Positioned along King Street in the western core, the property benefits from exceptional exposure and consistent foot traffic generated by nearby office towers, hotels, and major transport links. Located just steps from The Grace Hotel, Slip Inn, and George Street Light Rail, the site is within walking distance of Barangaroo, Darling Harbour, and Martin Place, ensuring strong day and night trade.
The asset comprises a ground-floor retail shop and three storage lots within the “Kingsleigh” mixed-use building, totaling 47 sqm. It is fully leased to Peace Harmony Vegetarian Thai Cuisine, an established operator with over 15 years of trading history at this location and a 4.7-star Google rating from more than 570 reviews. The tenant operates under a secure 5-year lease (commenced February 2023) with a further 5-year option, annual fixed rent increases of 3.5%, and a net lease structure where the tenant pays all outgoings (excluding one storage lot).
With a current net income of approximately $98,328 + GST per annum and a strong covenant backed by a personal guarantee, this property offers investors a stable income stream and long-term growth potential in one of Sydney’s most tightly held hospitality precincts.
Interior View
Interior View
Interior View
Kitchen area
Kitchen area
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27-29 King St - Metro Apartments On King
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