Sydney Irish pub Scruffy Murphy’s part of $130m sale

An amalgamated development site at the southern end of Sydney’s CBD that includes Irish pub Scruffy Murphy’s has hit the market for $130 million.

The development site on the corner of George and Goulburn Streets holds stage one approval for a 40-storey tower lodged with the City of Sydney early last year.

Owner KGH lodged plans to develop a total of 17,000 square metres in gross floor area comprising a hotel and residential tower or potentially a commercial development with an end value of more than $300 million.

Plans for the corner site allow for a 153-metre building and include the demolition of some of the older commercial buildings across the sites but the adaptive reuse of the heritage Kiss' Building at 43-49 Goulburn Street.

Knight Frank’s Dominic Ong, John Bowie Wilson and Massari’s Simon Elcham are handling expressions of interest for the site.

“This is an extremely rare opportunity to secure a sizeable 1,225 square metres of prime Sydney CBD land with enormous development potential,” Bowie Wilson said.

“There are currently a number of development options on the table which include a hotel, an office tower, residential apartments or a mix of all three.”

“All of which are permissible under the current planning controls and have enormous potential to generate excellent development revenue returns.”

Sheridan Randall, 9^th July 2019