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Landmark buildings in Sydney fo...

Landmark buildings in Sydney for sale

Government buildings in the heart of Sydney are going up for sale.

Several landmark properties in the heart of Sydney have been tipped for sale.

The New South Wales government has confirmed plans to sell a number of iconic properties after more than 100 years of ownership, the Australian reported.

Up for sale will be the Department of Lands building, the Education building, Ausgrid house at 570 George Street and vacant land in Waterloo Road, Macquarie Park, among other assets.

The properties are expected to net the government Aus$200 million as two of the buildings are historic sandstone structures at the very centre of the financial district.

"The state expects to attract interest from a broad spectrum of local and international investors, given the opportunities the properties offer to different markets," the acting minister for finance and services, Andrew Constance, said yesterday.

However, government opposition leader John Robertson said that the move illustrated poor long-term strategy and will do little to improve cashflow moving forwards.

Posted by Steve Douglas

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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