NSW government's sale of Blacktown building fetches $17.5 million

NSW government's sale of Blacktown building fetches $17.5 million
NSW government's sale of Blacktown building fetches $17.5 million

The NSW government has sold off a commercial office building in the heart of Blacktown for $17.15 million.

Blacktown City Council has been selected as the preferred buyer for the six-story building at 22 Main Street, after an open market tender.

The building will be leased back to the state government to meet the occupancy needs of government tenants, that includes the Department of Education, WorkCover NSW and Juvenile Justice.

“The sale and leaseback of this property not only releases capital upfront to reinvest into infrastructure and services for the community, it also maintains government jobs in Blacktown’s CBD,” said Brett Newman, the CEO of Government Property NSW, while announcing the sale.

Newman said the sale aligns with the principles outlined in the Property Asset Utilisation Taskforce (PAUT) report, which state that government should only own real property assets to support core service delivery.

The sale of 22 Main Street was managed by CBRE.

Tags: 
Office Space Commercial Sale

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