Lease for historic Sydney waterfront site expected to fetch $80 million

Lease for historic Sydney waterfront site expected to fetch $80 million
The heritage-listed Campbell's Stores site in The Rocks area is likely to attract interest from local and possibly overseas buyers, The Sydney Morning Heraldreports.

Two years ago the 170-year-old sandstone warehouse was put on the market by vendor Farrer Property during the pandemic but then withdrawn.

The leasehold for the Campbell's Stores building at 7-27 Circular Quay West at The Rocks in central Sydney is up for sale.The leasehold for the Campbell's Stores building at 7-27 Circular Quay West at The Rocks in central Sydney is up for sale. (Patrick Stevenson)

Now the 53-year lease for the building, which spans 4394 square metres over three levels, has been relisted.

Dating from the 1840s, the site was used by trader Robert Campbell and played a key role in Sydney's economic growth during the 19th century.

It completed a major $54 million refurbishment and restoration in 2019.

The suburb where house prices rose over $240k in three months

Today the building houses popular restaurants, bars and other businesses.

Real estate agencies CBRE and Stonebridge Property Services are handling the sale.

The Campbell's Stores building at The Rocks houses popular restaurants, bars and other businesses. (Patrick Stevenson)

They say there is opportunity for further redevelopment opportunities subject to approvals.

Interest is expected from local and international buyers hoping to purchase a rare commercial property on the foreshore of Sydney Harbour.