HEWORTH settled $100M office tower.
160 Sussex Street, Sydney 2000
The freehold building has combined 8,269.5 sqm of commercial space, sits on 853.6 sqm of prime Sydney CBD land, and with excellent natural light, expansive harbour and district views from the upper levels. The complex is currently 100% leased with cash flow being underpinned by Education Centre of Australia (ECA) who occupy 46% of the Net Lettable Area (NLA)
The Savills report highlights the large rental increase and big contraction of Sydney’s CBD office. The vacancy rate at 4.6% in Sydney CBD’s office market remains the equal lowest. Tight leasing market conditions and a significant lack of available space in the CBD and particularly in the core precinct, is likely to support further rental growth.
Because of its Sydney's booming population, limited future office supply, highly convenient and desirable location, ready access to outstanding transport, recreational and education facilities as well as it vibrant commercial and residential sectors, we see this Sydney CBD purchase as a sound investment in securing long-term growth.