This article is from the Australian Property Journal archive
THE Australian Technical and Management College has quietly sold its Sydney CBD office and classrooms building in a $24.5 million sale and leaseback deal.
The seven-storey 1,339 sqm building at 432 Kent Street traded on an initial yield of 4% with a three-year lease across the entire building.
Knight Frank’s Jonathan Vaughan, Tim Holtsbaum and Dominic Ong managed the off-market sale.
The building was subject to a full strip-down and fit-out by Kerfoot with Multibuild Australia “to transform the building into a purpose-built space where ATMC can provide state of the art facilities to their staff and students”.
The works were conducted with the building catering for over 1,000 staff and students each day in mind.
