The building is located in a prime corner position in the centre of Sydney’s prestigious financial district.
The property consists of an 8 level heritage façade office building, built in circa 1892 that fronts Martin Place and an interconnecting 20 Level office tower fronting Pitt Street. The entire structure includes 1,911m2 of ground and lower ground floor retail. This building has a 3.5 star NABERS rating. Recent completion of the ground floor retail development has subsequently increased occupancy to 95%.
This property is held in joint venture with the Kirsh Group.
|Valuation date||December 2016|
|Acquisition date||June 2011|
|Net lettable area||13,106m2|
|WALE by income||3.3 Years|
|Rent review stucture||CPI and Fixed|
|Major tenants by income||
International Bank, IRESS and Long Chim restaurant
|Valuation range||$80-90 million|