Sale of Domain House
The most recent Sydney Cityscope figures reveal that sales in the Sydney CBD of $962 million were transacted in the last three months. Included in this was Domain House at 139 Macquarie Street which was sold on behalf of private company, Rigby Hall Pty Ltd, by JLL - Sydney and Savills. On the market for the first time in 27 years the property sold for $132.95 million.
Domain House is a 14-storey office block which was completed in 1971 with never to be built out views of the Botanical Gardens and Sydney Harbour. It has a net lettable area of 5,811 sqm and typical floor plates of 460 sqm. Major tenants include Alium Capital, 2Discover Recruitment, BCC Partners, Biointelect and numerous medical tenants.
The site last traded at $18 million in 1996. This sale at $132.95 million represented an initial yield of 3.52% on a passing income of $4,679,840 and according to the selling agents, “highlighting that depth of market remains for high quality assets such as 139 Macquarie Street.”
CoreLogic Australia