A 50 per cent freehold interest in the MLC Centre at 19-29 Martin Place in Sydney’s CBD is being offered for sale via international expressions of interest.

Savills Australia’s Ian Hetherington, Simon Fenn and Ben Azar, and Cushman & Wakefield’s Josh Cullen and Mark Hansen, have been exclusively appointed to market the landmark asset.

Mr Hetherington said the campaign was expected to attract interest from all major global investors.

At a glance: 

•  A 50 per cent freehold interest in the MLC Centre at 19-29 Martin Place in Sydney’s CBD is being offered for sale.
• The MLC Centre comprises 67,408 square metres of prime office space across 57 floors, in addition to 10,305sqm of prime retail space.
• Savills Australia’s Ian Hetherington, Simon Fenn and Ben Azar, and Cushman & Wakefield’s Josh Cullen and Mark Hansen, have been appointed to manage the expressions of interest campaign.

“Arranged in four rises, the MLC Centre is one of Sydney’s only buildings to offer sky-rise office floors, which enjoy 360-degree views of the Sydney CBD, Darling Harbour, Sydney Harbour and surrounds," he said

Located in the heart of the Sydney CBD adjacent to the Sydney Metro project’s new Martin Place station, the MLC Centre comprises of 67,408 square metres of prime office space across 57 floors, in addition to 10,305 square metres of prime retail space.

The MLC Tower is Sydney's CBD. Source: Savills

Mr Cullen said strong rental reversion would be a key selling point for prospective buyers.

“Coupled with falling vacancy rates, the current market conditions in Sydney are poised to encourage positive rental reversion,” he said.

Mr Azar said the MLC Centre presented significant future upside opportunities through its DA-approved retail redevelopment, which will expand the retail offering on the site and utilise the 255-metre prime street frontage, especially along King and Castlereagh streets.

“This makeover will have great appeal to high-end retailers,” he said.

“The improvements seek to increase pedestrian foot traffic through the activation of laneways, and revitalise the heart of the MLC Centre to provide a more attractive precinct for tenants and visitors.”

Expressions of interest close at 4pm on April 11, 2019.

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