Deka Immobilien´s longest standing global open-ended fund Deka-ImmobilienGlobal has successfully acquired 333 George Street in Sydney – an elegant landmark core office and retail building in Sydney’s prime CBD.
The property rises 18 Storeys and is encapsulated by a full height glass façade offering floors of high-quality office space and four retail units across the basement, ground floor, and first floor, as well as a basement car park. Tenants also enjoy top-notch end-of-trip facilities to encourage a health work life balance. The total lettable area is 14,508 sqm. Sustainability is a key feature of 333 George Street, with the property boasting a NABERS Energy Rating of 5.5 Stars and a Green Star Performance certification of 6.0 Stars, reflecting top scores in energy provision and efficiency.
333 George Street is prominently situated at the intersection of Regiment Square, George Street, and Martin Place in Sydney’s central CBD. The building enjoys exceptional transportation links, with St Martin Place Station, Wynyard Station, and the recently added Sydney Tram line all within a few minutes walk.
The striking glass façade allows for an abundance of natural light and offers views of the ever-vibrant George Street, further enhanced by highly sought-after, spacious terraces that are exclusively available to tenants. The main tenant, the global law firm Clyde & Co, recently renewed their lease, and the building is also home to companies from the finance and services sectors.
Following our successful acquisition in Vancouver in March 2024, we are continuing our counter-cyclical investment strategy by capitalizing on current market dynamics. We are further internationalizing our fund profile and strengthening our presence in the Asia-Pacific region, which now represents about 19% of our real estate assets.
Sydney is Australia’s largest city and a major hub for industry, commerce, and finance, attracting strong investor demand which in turn creates high barriers to entry. George Street, which stretches from Central Station to Circular Quay, was Sydney’s original high Street and now boasts the highest number of high-rise buildings on any Street in Australia. The immediate surroundings provide a range of luxury retailers including flagship stores such as Louis Vuitton, Cartier, Tiffany, as well as trend setters such as Nike, and Apple. Deka Immobilien´s very own BVLGARI Store (another Deka-ImmobilienGlobal jem) sits within minutes of the building. This commercial hotspot attracts a range of premium international tenants including EY, LinkedIn, Sales Force & DLA Piper.