Once Sydney’s tallest building – a CBD landmark modelled on the Eiffel Tower, 45-47 York Street for sale which earnt heritage status and featured in hit film The Matrix. CBRE Harry George has been appointed to sell the stake via am Expressions of Interest campaign on behalf of four separate owners. 

Now the AWA building could be set for its next phase, with the for-sale sign having been lifted on more than half the strata units in the 45-47 York Street property.

CBRE’s Harry George has been appointed to steer the Expressions of Interest campaign on behalf of four separate owners, who have clubbed together to sell their strata suites – accounting for 57.81% of the strata area and 52.17% of the voting rights.

The campaign is being led by major owner and building occupier Legacy Club Services.

“There is potential for an incoming owner to consider multiple options to create value and capitalise on the building’s strategic location bordering the Wynyard precinct and Barangaroo,” Mr George said.

“Rolling refurbishments could be undertaken over the acquired suites to maximise the potential rental or an investor could seek to increase their holding, collapse the building’s strata scheme and assume full ownership.”

The art-deco York Street building and radio tower was the symbol of Sydney radio for decades. Constructed for Amalgamated Wireless Australasia Limited in 1939, it was Australia’s tallest building for more than 20 years – rising 133 metres above York Street

In 2007, the building was strata subdivided into 23 strata titled lots. The CBRE sale campaign involves 2,723sqm of semi-contiguous office and basement retail space offering a Weighted Average Lease Expiry of 4.10 years.

The suites are fully lease to occupiers including Legacy Club Services and MSM Loss Management, providing a net passing income of $1,765,428.

“Given the strong rental growth forecast for the Sydney CBD, the sale provides an opportunity to ride the expected market recovery and capitalise on the growth and activity occurring in the city’s western corridor,” Mr George said.

Expressions of Interest close 17 June 2021.

To request a copy of the Information Memorandum please contact the marketing agent Harry George of CBRE via the contact form below. 

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