60 Margaret Street, Sydney

60 Margaret Street, Sydney is ideally located within the CBD's core precinct, above Wynyard Railway and bounded by Margaret, George and Jamison Streets.  A 36 level, A-grade office tower comprising 30 large office floors of approximately 1,250 to 1,400sqm each and a vibrant CBD shopping centre anchored by Woolworths.

Investment Details

  • A Grade CBD Office
  • Purchased 50% interest in 2005 by an institutional client
  • Office NLA 40,034 sqm
  • Retail NLA 6,540 sqm
  • 94% leased to corporate & retail  tenants
  • WALE approx. 2.7 years
  • Current approx. value $245 million

Key Disciplines

  • JGS negotiated the purchase as a long term hold asset
  • Appointed as Asset manager
  • Negotiation of long term leases
  • Repositioned retail to reflect strong income demographics of the catchment
  • Secured Woolworths as the anchor retail tenant
  • Created a core asset from core plus at acquisition
  • Acquisition advice and full due diligence management
  • Asset management
  • Executed off market sale at significant premium to valuation

Learning Outcomes

  • Acquiring vacancy and managing market perception with clear communication strategy combined with early tenant liaison and identification delivered strong leasing outcomes