Investa to Sell 100% Freehold Sydney CBD Asset

01 November 2017

Investa Property Group is set to take to market a freehold commercial and retail asset in the heart of the Sydney CBD following inquiries from interested parties.

Located at 130 Pitt Street, the 10,893sq m building offers 13 levels of quality office accommodation spanning 9,829sq m and 1,064sq m of net lettable retail space on a 976sq m site, with 10 car parking bays.

Strategically positioned between Martin Place and Pitt Street Mall with 38 metres of street frontage; a substantial part of which has prime retail shop frontage, the building boasts vibrant city views and is for sale through Ben Azar and Ian Hetherington of Savills Australia and Josh Cullen and Rick Butler of Inc RE.

The well-presented building boasts 96 percent occupancy with a 2.7 year Weighted Average Lease Expiry (by income) that is well placed to ride the current wave of increasing rents in office the Sydney CBD market.

According to Ben Azar, National Head - Cross Border Investments at Savills Australia, there is an opportunity for strong reversion potential across the office and retail components in the short term.

“Most notably, any retail repositioning will directly benefit from the building’s close proximity to Pitt Street Mall and King Street’s high-end retail, not to mention the short walk to Wynyard and Martin Place railway stations.”

According to Josh Cullen of Inc RE, “This is a core CBD location with dual street/land access which adjoins the MLC Centre and 5 Martin Place. The building also offers a 5 star NABERS Energy rating and we expect interest from a number of local and offshore investors.”

130 Pitt Street, Sydney is offered for sale through Savills Australia and Inc RE via International Expressions of Interest closing 4pm (AEDT) Thursday 23 November 2017.

 
 

Key Contacts

Ben Azar

Ben Azar

Director - Capital Transactions
National Head - Cross Border Investments

Savills Sydney

+61 (0) 2 8215 8824

 

Ian Hetherington

Ian Hetherington

National Head
Capital Transactions

Savills Sydney

+61 (0) 2 8215 8925