56 Pitt Street, Sydney

Overview

56 Pitt Street is a sustainable office tower that occupies a significant site in Sydney’s past. Built on land that originally housed the Sydney stock and wool exchange 150 years ago, this contemporary building proudly features the Lady of Commerce Statue that dates back to 1889.

56 Pitt offers 26 levels of B-Grade office space with 800 square metres typical floor areas typified by natural light and with views across the CBD and Sydney Harbour. The workspaces are complemented by ground floor retail offerings and basement parking for 64 cars.

Sustainability is a key factor at 56 Pitt Street, with the building achieving a 5-Star NABERS Energy rating marked by significant reductions in electricity and water usage.

The building is conveniently located close to both bus and train public transport options, including Wynyard and Circular Quay stations.

- Sustainability focus

- Views of the CBD and Sydney Harbour

- Convenient access to public transport

Property Information

  • Building typeB Grade - office
  • TitleFreehold
  • Site area (hectares)0.2
  • Lettable area ('000sqm)20.0
  • Lettable area adjusted for ownership ('000sqm)10.0
  • Typical floor area (sqm)800
  • Number of buildings1
  • Car parking spaces64
  • Year built1967
  • Major tenantPapuan Oil Search
  • OwnerDXS
  • Ownership (%)50
  • Co-ownerDexus Office Partner
  • Metro areaSydney CBD
  • ZoningB8 Metropolitan Centre
  • Acquisition dateApril 2014
  • Book value at ownership ($m)156.5
  • Independent valuation dateJune 2019
  • Independent valuation at ownership ($m)156.5
  • Market cap rate (%)5.25
  • Initial yield (%)4.89
  • Leased by area (%)94
  • Weighted lease term by income (years)2.0

  • NABERS Energy rating (with Green Power)5.5
  • NABERS Energy rating (without Green Power)5.0
  • NABERS Water rating4.0