Governor Phillip & Macquarie Tower complex is one of Sydney's leading Premium office buildings. 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.

1 Farrer Place comprises two landmark towers with over 80,000 square metres of office space located in the heart of Sydney’s financial district, close to the NSW Parliament and Circular Quay transport hub.

GPT has 37 levels of premium office space and GMT 25 levels, both offering unparalleled views over the Harbour, Botanic Gardens and the city.

There is secure public and tenant parking for up to 654 cars. Modern end-of-trip and fitness facilities including secure bike parking, showers and lockers. The building features impressive lobby areas, onsite cafés and Dexus Place which offers flexible meeting and training facilities for Dexus customers. Security is paramount, supported by 24-hour, 7-day onsite security control room.

- Premium and historic location

- Outstanding in-house services

- Immediate transport connections

  • NABERS Energy
    5 Star Energy Rating
  • NABERS Water
    3.5 Star Water Rating

Property Details

Building type
Premium Grade - office
Title
Freehold
Site area (hectares)
0.6
Lettable area ('000sqm)
85.0
Lettable area adjusted for ownership ('000sqm)
42.5
Typical floor area (sqm)
1,460
Number of buildings
3
Car parking spaces
654
NABERS Energy rating (with Green Power)
GPT 5.0 / GMT 5.0
NABERS Energy rating (without Green Power)
GPT 4.5 / GMT 4.5
NABERS Water rating
GPT 3.5 / GMT 3.5
Year built
1993
Major tenant
King & Wood Mallesons
Owner
DXS
Ownership (%)
50
Co-owner
General Property Trust & Australian Prime Property Fund

Property Statistics

Metro area
Sydney CBD
Zoning
B8 Metropolitan Centre
Acquisition date
December 1998
Book value at ownership ($m)
1,092.5
Independent valuation date
December 2018
Independent valuation at ownership ($m)
1,092.5
Market cap rate (%)
4.76
Initial yield (%)
4.81
Leased by area (%)
98
Weighted lease term by income (years)
5.4