175 Pitt Street, Sydney

Overview

175 Pitt Street is a superior office building that delivers sustainable design and sought-after amenities. A retail redevelopment was completed in 2019, that added three luxury retail brands, Tiffany, Kennedys and Hublot.

A substantial building upgrade was completed in 2010, incorporating sustainable initiatives like monthly water and electricity monitoring, recycling programs and sensor lighting in common areas. The building also has a 4 Star Green Star rating.

175 Pitt Street offers 22 levels of A-Grade office space with 1,050 square metres typical floor area, views to Sydney Harbour Bridge and Sydney Tower from the upper levels, high-end ground and lower ground retail including luxury brands, financial institutions and a gym, as well as basement parking for 52 cars.

The building’s amenities help encourage an active workforce, with premium end-of-trip facilities including showers, secure bike parking, a towel service and lockers.

175 Pitt Street’s central location, with frontages to Pitt and King Streets, means the building is close to Sydney’s major retail and dining precincts as well as major train and bus transport routes.

- Views to Sydney Harbour and the CBD

- New end-of-trip facilities

- Sustainable building practices

Property Information

  • Building typeA Grade - office
  • Year built1975
  • TitleFreehold
  • Metro areaSydney CBD
  • ZoningB8 Metropolitan Centre
  • Site area (hectares)0.2
  • Lettable area ('000sqm)25.7
  • Lettable area adjusted for ownership ('000sqm)12.8
  • Number of buildings1
  • Typical floor area (sqm)1,050
  • Car parking spaces52
  • Owner DXS,DEXUS OFFICE PARTNER
  • Ownership (%)50
  • Co-ownerDexus Office Partner
  • Major tenantTiffany & Co Australia
  • Acquisition dateApril 2014
  • Book value at ownership ($m)337.5
  • Independent valuation dateJune 2022
  • Independent valuation at ownership ($m)337.5
  • Market cap rate (%)4.45
  • Initial yield (%)4.02
  • Leased by area (%)82
  • Weighted lease term by income (years)5.2

  • NABERS Energy rating (with Green Power)5.5
  • NABERS Energy rating (without Green Power)5.5
  • NABERS Indoor Environment175 O 5.0, 175 R Ineligible
  • NABERS Waste175 O 3.0,175 R Ineligible
  • NABERS Water rating5.5
  • Green Star rating4.0 Star (Office Design v2)
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