Governor Phillip & Macquarie Tower Complex

1 Farrer Place, Sydney


Governor Phillip & Macquarie Tower complex is a premium CBD office complex with a stunning, light-filled lobby that unites the two landmark towers. Bearing the name of two leading colonial era governors, the buildings have a unique connection to Sydney’s commercial life that dates back to 1788.

Governor Phillip Tower has 37 levels and Governor Macquarie Tower 25 levels, offering more than 80,000 square metres of premium office space between them. With typical floorplates of 1,200-1,460 square metres, each cleverly designed floor provides inspiring office space, equipped for every aspect of business at the highest level. The complex also offers the new retail precinct, Raphael Lane which launched in 2019, offering a variety of impressive dining options.

Located in the heart of Sydney’s financial district, with close proximity to Circular Quay and Wynyard transport hubs, the towers offer unparalleled views over the harbour, Botanic Gardens and CBD.

There’s secure public and tenant parking for up to 654 cars, modern end-of-trip and fitness facilities including a bike area, showers and lockers. The building features very impressive lobby areas and onsite cafés. Security is paramount supported by 24-hour, 7-day onsite security control room.

- Premium and historic location

- Outstanding on-site amenities

- Expansive CBD and harbour views

Asset Information

  • Asset typePremium Grade - office
  • Year built1993
  • TitleFreehold
  • Asset locationSydney CBD
  • ZoningB8 Metropolitan Centre
  • Site area (hectares)0.60
  • Lettable area ('000sqm)85.6
  • Lettable area adjusted for ownership ('000sqm)42.8
  • Number of buildings3
  • Typical floor area (sqm)1,200-1,460
  • Car parking spaces654
  • OwnerDXS
  • Ownership (%)50
  • Co-ownerAustralian Prime Property Fund
  • Major tenantDabserv Pty Ltd
  • Acquisition dateDecember 1998
  • Book value at ownership ($m)1270.0
  • Independent valuation dateDecember 2023
  • Independent valuation at ownership ($m)1,270.0
  • Market cap rate (%)4.88
  • 12 month rolling yield (%)4.69
  • Leased by area (%)98
  • Weighted lease term by income (years)5.4

  • NABERS Energy rating (with Green Power)GMT 5 / GPT 5
  • NABERS Energy rating (without Green Power)GMT 4.5 / GPT 5
  • NABERS Indoor EnvironmentGMT 5.5 / GPT 5
  • NABERS WasteGMT 3.5 / GPT 3.5
  • NABERS Water ratingGMT 4.0 / GPT 4.0
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