The nearby Crows Nest metro rail line is due to be operational in 2024.
Guided for circa $20m, the property is being presented for auction through the Colliers team of Miron Solomons and Tom Appleby and CI Australia’s Nick Lowry. Mr Solomons said the successful buyer of Willoughby House would be able to take advantage of the precinct’s ever-growing demand.“Set atop Crows Nest’s highest point, this highly renowned five-storey building benefits from its defensive fully leased income profile and secure long-term covenants with prized CPI annual rental increases. We expect to see a strong level of enquiry, as it will undoubtedly appeal to a vast array of astute investors seeking a prized asset.
“Opportunities to purchase freehold assets in tightly held markets with as much private and public infrastructure as Crows Nest are few and far between,” Mr Lowry said.