NSW Government Sydney Asset Sell Off

The NSW Government is preparing to sell off almost $50 million worth of small Sydney CBD office buildings as part of its plan to reap funds from the sale of state assets. The Government will then redeploy the funds into the state's infrastructure.

While the sale will not meet the original $13 billion estimate, The Australian reported that the Government has sent out submission requests to agents for the sale of city buildings.

[tweet_dis]The #NSWGov is preparing to #selloff almost $50 million worth of small #SydCBD office buildings[/tweet_dis]When contacted for a statement by The Australian a spokeswoman said," in preparation for the sale and marketing of assets, Government Property NSW seeks submissions from real estate agents to assess their capabilities and fee propositions.""Details of any properties identified for future sale by GPNSW remain commercial in confidence until the properties are ready for launch in the market."A number of large sales are already in the pipeline including selling the $200 million Australian Technology Park in Sydney, an estimated $150 million stake of the Green Square Town Centre, 4 sites in Western Sydney, and a site in the NSW Southern highlands able to hold up to 4,200 allotments.