Unions NSW has appointed Coolamon Consulting as its transaction advisor and RWC Western Sydney as the exclusive sales agent for the sale of 70 per cent of the building at 20-24 Wentworth Street, with a price guide of $12 million.
The property represents a tightly held asset in one of Sydney’s most strategically important commercial precincts. Its direct proximity to Parramatta Station and moments from Parramatta Square places it at the epicentre of the city’s ongoing transformation. The property is also moments from Westmead hospital precinct.
"This is a rare opportunity to secure a majority interest in a strategically located position opposite Parramatta Square and the train station. We anticipate significant interest from owner occupiers, land bankers and strata dealers," said Peter Vines of RWC Western Sydney.
"The decision by Unions NSW to divest aligns with a broader trend of major organisations rationalising their property holdings. That opens the door for strategic investors to reposition or capitalise on Parramatta’s long-term growth trajectory."
There are very few opportunities within Parramatta CBD for the plethora of small to medium businesses to own their own premises within Sydney’s second CBD. The number of these businesses have surged in recent years on the back of the significant expansion of major government agencies and multi nationals corporations choosing to locate themselves in Parramatta.
"Buyers will immediately recognise the value in acquiring a property of this pedigree, backed by strong fundamentals, in such a prime location," said Victor Sheu of RWC Western Sydney.
"Parramatta continues to evolve as Sydney’s second CBD, and with connectivity improvements like Metro West on the horizon, this asset presents an exceptional foundation for future value creation," said Joseph Assaf, also of RWC Western Sydney.
