With the project DA approved, Phoenix seized the redevelopment
opportunity into an A-Grade office in the heart of the Sydney CBD.
333 Kent Street is an existing 10,320 sq.m., 8-level, B-Grade CBD
office building. Our strategy is to redevelop the property
utilising the existing DA approval allowing for the redevelopment
into a 14-level A-Grade office building comprising approx.
15,000 sq.m. of GFA, with construction expected to commence in Q2,
2022.
The office supply dynamics upon expected construction completion
are supportive of our investment strategy to deliver this project
within the investment timeframe.
We consider that the delivery of an A-grade office building to the
market in 2 years will be met with good tenant demand.
