Marshall
Investments acquired 263 Clarence Street, Sydney which settled on 18
October 2002 for a price of $11.65 million. 263 Clarence Street
comprises basement parking, a second basement for storage, Ground floor
retail and eleven upper levels of commercial office space.
The
property is conveniently situated between Market and Druitt Streets in
Sydney’s midtown Central Business District, close to the QVB, Pitt
Street Mall and the Town Hall bus/rail interchange.
The building has undergone a major refurbishment in order to convert to
strata lots of up to 404 m2.
Four
levels leased to the International Management Group were sold to Domaine
Diversified Fund for $6.525 million. It was the second-largest
strata sale in Sydney's CBD in 2004.
This
project is a joint venture with Macquarie Bank with two floors remaining
to be sold to complete the project.