George Street Offices

Property Summary as at June 2020

Ownership
100%
Acquisition date
2019
Site Area
1,412m2
Total area (NLA)
5,562m2
Occupancy
75%
WALE (income)
2.4 years
Rent Review Structure/s
Various
Tenant/s
NSW Government, Westpac Banking Corporation, Aussie Pay
Value Range
$40-$45 million

Located within the Justice Precinct, 9 George Street has been repositioned to take advantage of the improving demand for office space in the Parramatta market. Upgrades to lighting and air-conditioning have been completed, reducing energy consumption and demonstrating CBIC’s commitment to environmentally responsible investment.

The recently completed refurbishment has seen high quality tenants committing to leases, despite the widely-felt impacts of COVID, which demonstrates the strong demand for quality space in Parramatta.

The New South Wales Government’s commitment to infrastructure investment in Parramatta and the Western Sydney region has established Parramatta as a viable alternative to the Sydney CBD, with the opportunity to provide increased occupancy ratios and capital growth.