Whole Sydney CBD office level for sale

A whole floor tenanted strata office investment on Pitt Street, Sydney in Randstad House on the market through Ray White Commercial Sydney’s Christian Minards and Anthony Harris.

The property, Level 4/109 Pitt Street, Sydney, is 930 sqm and has nine separate strata lots with existing leases.

According to Christian Minards the property will return net rental income of $530,000 per annum with a weighted average lease expiry (WALE) of 3.16 years as of October 2016.

Ranstad House has 20 levels of offices, a public car park for 143 cars and a ground level retail arcadewith direct access to Wynyard’s trains and buses.

Mr Minards said the Sydney CBD is currently expiring an unprecedented level of capital works being undertaken being a mix of NSW Government and private enterprise investment.

“This is evident with the resumption of numerous office buildings for the Sydney Metro rail, light rail from Circular Quay down George Street and the redevelopment of Wynyard,” he said.

“The private enterprise developments are also gathering momentum with Brookfield set to build their office development above Wynyard Station while AMP will be looking to get moving with their plans for Quay Quarter. Ultimately these projects when completed will truly enhance the Core precinct of the CBD.”

The property will go to auction at 10:30am (AEDT) on Tuesday, October 25, 2016, at the Mezzanine level, 50 Margaret Street, Sydney.