This article is from the Australian Property Journal archive
AN investor has paid $4.35 million at auction to secure the whole of level 7 of Sydney CBD’s 70 Pitt Street office tower.
The 462 sqm offering features high ceiling and polished concrete floors, and overlooks Pitt and Hunter Streets.
It sold with dual income streams returning a combined $277,514 per annum net, and has been fully leased for almost nine years.
The sale price reflected a 6.38% yield and floor rate of $9,415.58 per sqm.
Tim Noonan of Noonan Property and Mitch Noonan of CBRE marketed the property, which was Auctioned by Jesse Davidson of Auctionworks.
Australian Property Journal
