• Fri. Feb 23rd, 2024

    Telstra Explores Lucrative Real Estate Opportunities

    BySharna Bass

    Feb 11, 2024
    Telstra Explores Lucrative Real Estate Opportunities

    Telstra, the renowned telecommunications company, is embarking on a unique venture by putting two of its redundant exchanges up for sale. These desirable properties, located in prestigious areas, have the potential to generate tens of millions of dollars for Telstra.

    The first property, situated at 1c John St in Hunters Hill, offers a rare and flexible development site in one of Sydney’s most coveted Lower North Shore suburbs. The marketing for the property emphasizes the highly sought-after potential within this affluent area.

    Meanwhile, the second property, located at 4 Olphert Avenue in Vaucluse, presents an incredible opportunity to capitalize on breathtaking harbor views. The marketing for this property describes it as a rare and outstanding luxury residential development opportunity within a tightly-held Eastern Suburbs pocket.

    Both properties are listed for sale individually or together, and the expressions of interest campaign is being managed by Stonebridge Property Group – Sydney, with agents Lincoln Blackledge and Spero Xenos facilitating the process.

    The Vaucluse property boasts several key highlights, including being a rare freehold development site in one of Sydney’s most affluent suburbs. Similar to the Hunters Hill exchange, this superb location enhances the value of the property.

    Additionally, the Vaucluse property features an existing 13.5m double-storey brick building with impressive floor-to-ceiling heights and expansive floorplates. There is even a concept scheme for two luxury dwellings, taking advantage of the unique scale of the existing built form.

    Notably, the Vaucluse property offers water views from both the bottom and top floors due to its elevated corner position with a prominent double frontage. Furthermore, the property secures short-term holding income through a tenant-favorable triple net lease structure.

    Telstra’s decision to explore these real estate opportunities comes at a time when property prices in the area are experiencing fluctuations. The median house price in Vaucluse sits at $9.4 million, having increased by 7.4 percent over the past year. In contrast, Hunters Hill’s median price is $3.835 million, reflecting a 6.8 percent decrease over the same period.

    Telstra’s foray into the real estate market demonstrates the company’s strategic approach to maximizing its assets. By divesting these properties, Telstra has the potential to unlock significant value while focusing on its core telecommunications business.

    Telstra’s Redundant Exchanges for Sale:

    – Telstra is selling two redundant exchanges in prestigious areas, aiming to generate significant revenue.
    – The first property, located at 1c John St in Hunters Hill, Sydney, offers a rare development opportunity in a highly sought-after area.
    – The second property, situated at 4 Olphert Avenue in Vaucluse, offers the chance to capitalize on stunning harbor views and is described as a luxury residential development opportunity.
    – Both properties can be purchased individually or together.
    – The expressions of interest campaign is managed by Stonebridge Property Group – Sydney, with agents Lincoln Blackledge and Spero Xenos overseeing the process.

    Key Highlights of the Vaucluse Property:

    – The Vaucluse property is a rare freehold development site in one of Sydney’s most affluent suburbs.
    – It features a double-storey brick building with impressive floor-to-ceiling heights and large floorplates.
    – There is a concept scheme for two luxury dwellings, taking advantage of the existing built form.
    – The property offers water views from both the bottom and top floors due to its elevated corner position.
    – There is a short-term holding income through a tenant-favorable triple net lease structure.

    Property Market Overview:

    – Telstra’s decision to explore real estate opportunities comes at a time when property prices in the area are fluctuating.
    – The median house price in Vaucluse is currently $9.4 million, reflecting a 7.4% increase over the past year.
    – In contrast, the median price in Hunters Hill is $3.835 million, showing a 6.8% decrease over the same period.

    Related Links:

    Telstra – Telstra’s official website for more information about their telecommunications business and services.
    Stonebridge Property Group – Sydney – Stonebridge Property Group’s official website for further details on the real estate agency managing the expressions of interest campaign.