Westpac disaster recovery centre hits the market

Westpac has put its former Chatswood disaster recovery centre on the market.

JLL Capital Markets is selling the facility at 26 Smith Street, Chatswood.

A Westpac spokesperson told iTnews the property was originally built in the early 1990s. From then until 2018, it operated as a data centre.

That was followed by a refurbishment to operate as a business continuity centre “for short term occupancy for a limited number of people.”

The spokesperson said the bank no longer needs the property, so is selling it in a campaign closing April 9.

As a result, according to JLL Capital Markets’ director of sales and investments Harry Sullivan, the five-storey building features “substantial power infrastructure and high value plant and equipment”.

JLL co-head of sales and investments NSW Gordon McFadyen said the site is “significantly underdeveloped” and offers the buyer the chance to unlock additional floor space.

“The building benefits greatly from ample floor-to-ceiling height slab to slab, providing the opportunity to further adapt the current floor plates or expand the existing footprint by utilising the additional GFA [ground floor area]”.

JLL points to potential for redevelopment or expansion, with a 5644 square metre site and more than 5629 square metres of gross lettable area.