2 Elizabeth Plaza, North Sydney

Marprop’s acquisition of 2 Elizabeth Plaza, North Sydney, showcased our ability to unlock value through strategic asset management and transformative precinct upgrades. Ideally positioned between North Sydney Station and the then developing Victoria Cross Station, the asset offered 6,642 sqm of office space and 939 sqm of retail, totalling 7,580 sqm. This mix provided secure, diversified income with significant rental upside potential.

With a WALE of 1.9 years at acquisition, the B-Grade tower featured exceptional fundamentals, high visibility, and vibrant surroundings, anchored by Brett Whiteley Place and Elizabeth Plaza. Leveraging its SME appeal, Marpropenhanced occupancy levels and stabilised the asset through proactive management.

Our strategic vision aimed to reposition the property for sale, focusing on income growth, and after 28 lease transactions the asset had a 4-year WALE promoting cap rate compression. By implementing efficient management structures and driving performance, Marpropachieved significant uplift while contributing to North Sydney’s ongoing transformation.