Sydney – 55 Mentmore Avenue Roseberry

Partnering with Freehold Investment Management to acquire this uniquely located commercial property.


Sydney, NSW


9% p.a.

Grant Atchison, Managing Director of Freehold, said, “In recent years, we have partnered with Eagle Property Group on a number of value-add commercial assets. 55 Mentmore Ave is our third opportunity. The property is well located in an inner Sydney growth area that is going through significant urban renewal and offers compelling value-add potential. We plan to invest in the asset and lock in long-term tenants. Our previous two partnerships have been very positive for our investors and we’re confident this acquisition will deliver similar benefits.”

The Story

55 Mentmore Avenue was acquired at the height of the Covid pandemic in 2020.

The vendor was an elderly retired gentleman who was very active in the rag trade and the building presented as a ‘lazy’ asset with high level of vacancy and traditional fashion tenants utilising the space inefficiently.

In due diligence, we realised that certainty of exchange and settlement was of paramount importance to the vendor. However, while the building was vacant and we were preparing a strategy to reposition it, we would not be able to rely on income. We therefore entered into a strategic partnership with Freehold Investment Management so we could buy the building without debt.

What we expect

The five-level office building is located on the corner of Mentmore and Morley Avenues and sits on a large 2,931sqm site. This is a great position as it is directly opposite destination retail offering, The Cannery. The office space offers a Net Lettable Area of 5,316sqm, with fifty basement and ten on-grade parking spaces.

Rosebery is adjacent to the Green Square Town Centre where the NSW State Government and the City of Sydney, alongside the private sector, are leading an $8 billion urban renewal project. The broader Green Square precinct represents one of Australia’s fastest growing neighbourhoods, with over 30,000 new residential dwellings.

Our approach

The property must make sense. There needs to be a sensible plan to achieve the projected outcomes. If it has good bones, is in a great location, and has multiple options to achieve the requisite returns then we’re interested.

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© Eagle Property Group. ABN 9915 9438 623 All Rights Reserved. The references to ASIC and APRA above do not in any way intend to show or infer that Eagle Property Group has been endorsed, is associated with, or approved by either of these bodies. Eagle Property Group operates under Australian Financial Services Licence (AFSL) no. 402998. This AFSL is held by Crest Funds Management Pty Ltd, a company wholly owned by the shareholders of Eagle Property Group. By virtue of the AFSL, Eagle Property Group is regulated by the Australian Security and Investments Commission. Site made with love by Orange Bicycle