Civic Tower, Goulburn Street, Sydney office tower for sale

A Sydney office tower has been listed for sale. Civic Tower is a prominent office tower completed in 2004, comprising 24 levels of office accommodation, cafe and 54 secure basement car spaces.

The property located at 66 Goulburn Street has a floor area of 22,929 sqm with a five stars NABERS energy rating and was completed in 2004.

GDI Property bought the Civic Tower in 2014 for $136 million and it has been since revalued to $188 million.

Civic Tower was built in 2004 by Grocon, the first building in Australia to be fully supported on a central lift core.

GDI Property which is looking to raise more than $300 million from selling two key office assets as it reviews its portfolio.

The two offerings are 66 Goulburn Street in Sydney and 307 Queen Street, Brisbane.

The Sydney property has a secure, long term income with a WALE of six years anchored by Prudential Investment Company and Government Property NSW.

It comes with an estimated fully leased net income of $14.4 million p.a.

It has column-free floor plates.

The property is offered by joint agencies CBRE agents Michael Andrews and Scott Gray-Spencer and Knight Frank agents John Bowie Wilson and Jonathan Vaughan.