A great piece of Broadway real estate is up for sale - and it’s owned by a fairly well-known seller.
The Church of Scientology’s Sydney headquarters, located at 19-37 Greek Street, Glebe, is on the market.
TGC and LJ Hooker Commercial are taking the property to market and are anticipating a sale price of $15-20 million.
LJ Hooker Commercial South Sydney Managing Director Daniel O’Brien advised that the church were selling ahead of their move to a new premises.
“We expect significant levels of competition mainly for the fact there are limited freehold offerings on the market for sale in the CBD and City Fringe,” said Mr O’Brien.
“We have already fielded several off market offers on behalf of the client and can only encourage potential buyers to inspect this very rare piece of Sydney property for definite sale,” Mr O’Brien continued.
John Romyn, also of LJ Hooker Commercial says he expects the 4,566sq m property to hold big appeal for developers.
“Set over four levels, the property has a net lettable area in excess of 4,000sqm, on 1,339sqm of land, and when combined with its inner-city location and mixed use zoning, it’s ripe for redevelopment,” Mr Romyn said.
Located a stone’s throw from Broadway shopping centre, the property would seem ideally placed for development. The Broadway strip itself has been completely overhauled in the last few years, with the Central Park complex and upgrades to UTS providing a sleek new look for the street.
The area is set to see further revival in the coming years. Broadway shopping centre is about to receive a $55 million upgrade, and developers have multi-million dollar plans for other nearby sites. Site amalgamations and compulsory building acquisitions by the Metro Rail Project have also contributed to demand in the area.
The organisation has become famous partially for its celebrity members, who include Tom Cruise, John Travolta, Mad Men’s Elisabeth Moss and Orange is the New Black’s Laura Prepon.
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