Auction Frenzy Sees Pre-GFC Prices For Sydney Heritage Building

Fierce competition in a packed Sydney auction room, dominated by savvy Asian investors has seen an outstanding sale price secured for a quality heritage office building in the heart of the Sydney CBD.

143-145 York Street sold under the hammer for $21.25 million to Sydney Hotel City Pty Ltd under Yeh's Family on an initial yield of 3.3 per cent (4.47 per cent fully leased yield) through Jonathan Vaughan, Andy Hu and John Bowie Wilson from Knight Frank and Michael Burke from Steven Krulis Real Estate Consultants, who acted on behalf of the vendor, a local private investor.

The building is a well presented, nine-level heritage office building, situated in a prime location, with an extensive frontage to York Street and Market Row, directly opposite Sydney's iconic Queen Victoria Building and Town Hall Station. The building offers a Net Lettable Area of 2,654.5sqm on a 468sqm site.

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• 125 York Street for $25 million

• 63 York Street for $11.2 million

• 18-20 York for $13 million

• 36 Hickson Road for $12 million

• 117 Harrington Street for $12.9 million

• 1-3 Munn Street for $37.5 million

• 192 Pitt Street for $32.8 million