Case Studies

300 George Street, Sydney

Refurbished Office Suites

Known as Watson House, 300 George Street is a strata titled office building with approximately 43 lots built circa. 1964. The building is conveniently located between Martin Place and Hunter Street directly opposite the George Street entry to Wynyard station and light rail.

Following a full refurbishment of multiple floors including, but not limited to paint, carpet, perimeter walls, doors and ceilings, office suites of 66sqm and 97sqm became available for lease.

In summary
An office on Level 9 of 65sqm was leased to a health group requiring premises close to Wynyard station after establishing other locations already in Chatswood and North Sydney. Another office on Level 9 of 97sqm with kitchenette was leased to a project management firm which had outgrown nearby serviced office space. An office on Level 12 of 65sqm with partitioned meeting room and kitchenette was leased to a former tenant from a managed property situated within close walking distance on Pitt Street.

The face rental achieved in each instance was $750 psm pa gross, an increase of $150 psm pa gross above the previous rental rate for unrenovated office space in the same building.

Lease Analysis

  • Level 9, 65sqm Leased to health group for 3 years at $48,750pa.
  • Level 9, 97sqm Leased to project management firm for 2 years at $72,750pa.    
  • Level 12, 65sqm Leased to consultant for 3 years at $48,750pa.
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