280 Pitt Street
Sydney, NSW 2000
Parking close by.
Map of 280 Pitt Street
MIDTOWN FREEHOLD BUILDING WITH OUTSTANDING POTENTIAL
- Refurbish or increase NLA (STCA)
- Outstanding refurbishment potential
- Flexible floor plates
The surrounding Midtown Precinct is the most active hub of redevelopment in Sydney as investors and developers recognise that tenants are attracted to a plethora of nearby amenity.
Continuing strong demand for redevelopment to office, retail, hotel, serviced apartments and residential is seeing several high-quality projects under construction. Examples include the 67 level Greenland residential tower, Castle Residences and M Gallery by Sofitel and the proposed towers that will sit atop the Sydney Metro North and South stations.
The building’s short weighted average lease expiry profile (1.74 years by area), current low rents and appealing heritage façade will appeal to Owner Occupiers, Investors and Developers wishing to take advantage of significantly higher rents that are possible from a refurbishment. There is also the opportunity to increase the property’s net lettable area through development of an additional 4 levels (STCA)
The property’s office component provides vacant possession of approximately:
- 17% by end of 2020 plus
- 66% between 2020 – end of 2022
- Total of approximately 83% by end of 2022
The property has a NABERS Energy Rating of 2.5 Stars.
The property is being offered for sale via an International Expressions of Interest closing on Thursday 31 October 2019 at 4.00pm (AEDT).
Property ID: 503348034Last Updated: 3 Dec 2019