Hunter Street office suite sells for new Sydney square metre record

An office suite on Hunter Street in Sydney's CBD has sold for a record $16,630 per square metre, breaking the previous strata office record set last year.

The $1.63 million auction sale of the 98 square metre office space comfortably beat out the $15,234 per square metre record set in September.

Purchased by a Chinese buyer, the suite saw 109 enquiries and 19 contract requests through CBRE agents Mitch Noonan and Jessen O'Sullivan.

There were five bidders on auction day.

Noonan said the premium result achieved was largely due to buyers chasing high quality office assets with a robust leasing outlook. 

“The depth of appetite for this opportunity highlights that buyers are willing to compete for the right asset in the Sydney CBD – specifically those underpinned by a defensive leasing outlook, as well as having excellent access to key transport links,” Noonan said. 

 “The building holds a commanding presence in the heart of the CBD’s financial core. The suite itself faces due north, offering an abundance of natural light, and buyers responded well to these facets.”