European asset manager DWS has acquired a boutique office building in the heart of Sydney’s central business district, located at 32–36 York Street, from a local private real estate developer on behalf of two DWS-managed German real estate funds representing institutional and retail investors. The transaction was sourced and executed by DWS's Australia-based investment team.

The acquisition, includes 36 York Street, comprising a recently completed office redevelopment with ancillary retail and newly built extension, which has been integrated with a historic 1886 timber structured warehouse at 32 York Street to form a modern, high quality boutique mixed use asset. 

With a total lettable area amounting to approximately 8,200 square metres, the refurbished office, the company notes, features generous window frontages, increased ceiling heights and new end of trip facilities, while ground level restaurant, bar and café offerings enhance the mixed-use concept. Its strong environmental, social and governance credentials include a five-star Green Star certification and a five-star Nabers Commitment Agreement.

Positioned in a prime inner-city Sydney location, it offers excellent public transport options – bus, light rail, train, metro and ferry – and benefits from high pedestrian traffic and close proximity to popular retail precincts.

Ben Taylor, the asset manager’s head of real estate for Australia, adds: “32 York Street offered a strategic opportunity to acquire a newly completed next-gen boutique Sydney office asset, providing our investors exposure to strengthening Sydney office market fundamentals. We have witnessed demand increasingly focus on high-quality, centrally located office buildings with excellent sustainability attributes.”