Sydney’s Coveted Exchange Centre to Hit the Market
09 March 2017
The iconic Australian Exchange Centre in the heart of Sydney’s financial core is set to hit the market making this the first institutional grade Sydney CBD core offering since June 2013.
Located at 20 Bridge Street, the A Grade 20,329sq m commercial building comprises 13 upper levels of office accommodation, ‘Exchange Square’ retail on the ground level and an Auditorium at basement level.
The building is 96 percent leased with a long Weighted Average Lease Expiry (WALE) of over seven years and is owned by an offshore institutional investor, managed by Investa. The ASX Group occupies more than 45 percent of the building, with a lease expiry of more than 11 years.
Simon Fenn, Ian Hetherington and Ben Azar of Savills Australia have been exclusively appointed to sell the high profile asset which is only one of six buildings valued at over circa $200m and which is 100 percent owned within the CBD core.
According to Simon Fenn, Managing Director NSW at Savills “This is a rare opportunity to purchase 100 percent interest in the Sydney core and we expect a strong mix of both local and offshore interest, likely to come from China, Hong Kong, Singapore, Japan and parts of Europe”.
The Exchange Centre offers significant street frontage along Bridge Street and is minutes from Circular Quay and Wynyard Train Station. The property will also benefit from the revitalisation of the Quay precinct – including developments by China’s Dalian Wanda, Poly Group, AMP Capital, Lend Lease, Mirvac as well as Brookfield’s $2 billion Wynyard Place development.
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