JLL, along with Colliers, have been appointed exclusively to sell the main CBD property at 263 George Street, just opposite Australia Square, at a time when workers return to the city after global pandemic lockdowns.
JLL NSW Senior Director of Capital Markets James Aroney said the central Sydney CBD remains the city’s most desirable location for local, interstate and offshore developers, and “currently has the rate lowest vacancy rate in the market at 9.9 percent and attracts a 20 percent rental premium compared to other venues.”
Colliers National Director Vince Kernahan added that the allowable development is for a 17-level freestanding boutique retail and office building and that “such development ideally matches the strongest and deepest cohort of rental demand in the CBD of Sydney, which is for all apartments of less than 500 square meters”.
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