Sydney Mechanics’ School of Arts set to sell 10-storey tower

A property beloning to the Sydney Mechanics' School of Arts has come onto the market, with price estimates exceeding $50 million.

The 10-storey office tower at 280 Pitt Street covers 4300 square metres.

It is fully leased.

It is one block from Town Hall Railway station, and between the under-construction Pitt Street Sydney Metro North (150 metres) and South stations (50 metres).

There is reportedly also the potential to add an additional four floors or apply a further 2377 square metres, pending approval from the City of Sydney Council.

The building was purchased by the school in 1996, from a trust belonging to the Uniting Church of Australia, for $4.5 million.