An office property on the doorstep of one of Australia's leading retail precincts is set to go under the hammer next month.

Sixty per cent – consisting of 714sq m over levels two to six - of 122 Castlereagh Street in Sydney’s CBD will be taken to the market in a campaign run by Knight Frank agents Jessen O’Sullivan, Andrew Harford, Linda Zhu and Dominic Ong. 

The five levels are being sold as a vacant possession on behalf of a private investor. 

The eight-storey strata office building, known as Highmount House, is positioned just 50 metres from Westfield Sydney and David Jones. 

Mr O’Sullivan said the building’s strategic location would be one of the major drawcards of the offering for buyers, in addition to significant upside opportunities. 

“This is a rare opportunity to purchase a considerable portion of a strata asset in a dynamic midtown CBD location, surrounded by an abundance of infrastructure and retail amenity,” he said. 

“Highmount House is one of the most sought-after strata office buildings within the Sydney CBD midtown precinct due to its excellent connectivity. 

“The property is in walking distance of an array of transport amenity, including the recently completed George Street Light Rail and St James Station, as well as the soon-to-be-completed Pitt Street Metro development. 

“It is being sold as vacant possession, lending itself to an incoming owner-occupier to have creative control over accessing the space immediately." 

The strata offering in Highmount House will be auctioned on at 10.30am on Thursday, March 19 at Cooley Auctions. 

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