News & Research

Massive $362 Million Sale For State Super

Selling for the first time in 38 years, 83 Clarence Street, Sydney has been sold for $362 million after having last traded at just $8 million in 1984. The vendor was the State Authorities Superannuation Scheme and the buyer was the New South Wales Treasury Corporation, which is the financial markets partner of the NSW public sector.

According to Sydney Cityscope, 83 Clarence Street is a 19-storey building of over 19,000 sqm, which was completed in December 1985. It comprises 18 floors of office space, car parking over two levels and several retail annexes to Clarence Street and Kent Street. The building was refurbished in 2006, including the construction of a new entrance, larger foyer and sculpture gardens to the rear of the building. Part of the car parking on the ground level to Kent Street was replaced with two new restaurants in 2013.

Major tenants of the property include the Administrative Appeals Tribunal, Immigration Assessment Authority, Randstad and State Super.


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