157 Walker Street, North Sydney

Marprop acquired 157 Walker Street, North Sydney, in 2018 as part of our strategy to secure high-growth assets in markets with critical infrastructure changes for $80 million. The asset was sold to GPT’s Wholesale Property Fund for $124 million in 2022, achieving one of the highest price-per-square-metre rates at the time as a development site.

This outcome reflected Marprop’sability to capitalise on North Sydney’s infrastructure growth, including the upcoming Sydney Metro, and position the asset to benefit from precinct evolution. Proactive value-add initiatives, in line with our “Beyond Grade” amenity strategy, such as upgrading the lobby, end-of-trip facilities, and bathrooms and introducing a café operator to enhance tenant appeal and functionality. This allowed us to execute 20 lease transactions during our ownership period.

By leveraging our expertise in active asset management and anticipating demand shifts, Marpropmaximised value and delivered an outstanding return. The transaction highlighted our ability to navigate competitive markets and demonstrated our commitment to expanding the portfolio with premium assets in high-growth metropolitan centres.