Central Square, 323 Castlereagh Street, Sydney, NSW 2000

JLL and CBRE are pleased to exclusively present to the market a ~100% interest in 323 Castlereagh Street.

Repositioned Prime-Grade tower, fully leased, a proven outperformer with unrivaled goals. Multiple value-add opportunities remain and its prime Sydney CBD location and quality rarely align like this.

Investment Highlights: 

- 99% Leased, High Quality, Diverse Income 99% leased to premium tenants, including the Australian Government, of average WALE 4.1 years to expiry. Income is underpinned by a strong value proposition with an exceptional track record of high tenant retention and leasing success.
- Rare Freehold Island Site 3-470sqm site, three street frontages and port heritage links run center to both left.
- Irreplaceable Built Form Blue Ribbon value in the existing built form, with low risk for respected future value. Excellent future retention/reversion.
- Defined Reversion Even Rewarding Active Management With a full revalue goal, the pending Legal Aid tenancy will stretch c-Dec. After-term opportunity to reset income at market rents and/or redevelop/refurbish, as constrained by planning benefits of scale.
- State of the Art Amenity, Full Building Reinvestment The asset has been fully reimagined and renewed, with new lobby, lifts and end-of-trip amenity, lobbies and a tenant function centre all upgraded 2021-23. Future opportunities also exist to further expand and address all choices.
- An Ultra-Connected Lifestyle Location Enjoying an Ultra-Leafy-Hills junction, a 5-minute walk to Central Station — a rare opportunity to acquire an asset of this scale and unmatched in Sydney's most connected precinct. 300m to Hyde Park, 450m from Belmore Park and the CBD.
- Genuine Market Scarcity Limited prime CBD freehold opportunities. A-Grade towers have traded in the Sydney market over the last 10 years.
- Future Value add and exit optionality  A 17 story, 144 hotel scheme by Architectus has obtained a development approval from council, permitting a purchaser to capitalise on Sydney’s tight hotel supply there is also the potential subject to relevant authority approval or an estimated 850 bed PBSA conversion. 

A 100% freehold interest in Central Square comprising 18,823sqm NLA over 31 levels. 

323 Castlereagh Street is For Sale by Expressions of Interest (EOI) closing Wednesday 21 October at 2pm (AEST).