News & Research

Prestige Commercial Assets For Sale

Described as ‘delivering commercial prestige’, the two buildings at 32-36 Carrington Street Sydney have been placed on the market through CBRE Sydney and CI Australia. Vendor is Canadian based, Brookfield Asset Management, a global asset manager with $690 billion worth of property currently under management.

According to Sydney Cityscope, 32 Carrington Street, Lisgar House, an example of 1920s Georgian Revival architecture, is an 8 storey brick building completed in 1928 and initially refurbished in 1987-88, with parking for 8 cars. It was strata sub-divided into 14 lots in December 1992.

36 Carrington Street, formerly known as Korean Air House, is a 10-storey office block with basement parking for 12 cars and a showroom to Carrington Street, built in 1972. Initially a strata building with 9 units and 7 car spaces, the strata plan was cancelled into one lot and DP in 2020. The building is currently 100% leased.

Both buildings were extensively refurbished as part of the Brookfields Place multi billion development. The $30 million refurbishment included new foyers and end of trip facilities for both buildings.

36 Carrington Street last traded at $19.3 million in 2015 and all but one unit at 32 Carrington traded at a total of $19.55 million through several transactions between January 2016 and June 2019.


CoreLogic Australia

CoreLogic Australia

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