Capital Edge
Business Insights | Property Spotlights From Office
Two significant transactions highlight activity across Australia’s office market, from a landmark $715 million east coast portfolio sale to a rare Prime grade investment opportunity in the heart of Sydney’s CBD.
October 25, 2026
SOLD | Landmark east coast office portfolio
The $715 million sale of 30–34 & 36 Hickson Road and 123 Albert Street signals continued institutional conviction across Australia’s key office markets.
- $715 million combined gross sale price
- Two portfolio locations across Sydney and Brisbane
- 30–34 & 36 Hickson Road, Sydney, combining scale, character and repositioning potential
- 123 Albert Street, Brisbane, a prominent office tower in the CBD core
A major east coast office portfolio spanning 30–34 & 36 Hickson Road, Sydney and 123 Albert Street, Brisbane has settled for a combined gross sale price of $715 million, marking Australia’s largest office transaction of 2026 year to date. Sold on behalf of Dexus, the portfolio was acquired by BGO alongside Investa and Cliffbrook Capital.
The transaction provides a significant marker for Australia’s office investment market, highlighting continued institutional conviction in high-quality office opportunities across the country’s gateway markets.
In Sydney, 30–34 & 36 Hickson Road combines scale, character and repositioning potential within a distinctive waterfront setting. 30–34 Hickson Road offers a substantial corner-positioned office asset, while neighbouring 36 Hickson Road brings sandstone heritage character and a differentiated boutique workplace offering.
In Brisbane, 123 Albert Street is a prominent CBD office tower, characterised by its glass façade, street-level podium and strong presence within the city’s commercial core.
The sale demonstrates the scale of capital continuing to target quality office opportunities as investors assess assets across Australia’s major office markets. CBRE completed the transaction in conjunction with Savills.
50 Cavill Avenue, Surfers Paradise
An iconic Gold Coast office tower combines established income, strong fundamentals and future upside in the heart of Surfers Paradise.
Key property highlights
- 16,571 sqm of net lettable area
- 90.9% occupancy across 37 tenants
- $8.85 million net passing income approx
- $10.08 million full leased income approx
- 444 car spaces across five basement levels
- 3,494 sqm freehold site with future development potential, subject to approvals
Positioned in the heart of Surfers Paradise, the A-grade office tower provides approximately 16,571 sqm of net lettable area across office and retail space, set on a prominent 3,494 sqm freehold site. The property is currently 90.9% occupied, providing a diversified income stream across 37 tenants.
The tenant mix includes established corporate occupiers such as Mantra Group (Accor), Regus Gold Coast, Nine Network and CBRE.
Strong fundamentals in a tightly held market
The asset benefits from strong underlying fundamentals, including 444 car spaces, modern end-of-trip facilities, upgraded building services, an on-site café and panoramic 360-degree views across the Gold Coast. A major refurbishment program completed in 2018 included upgrades to air conditioning, lifts, office floors, end-of-trip facilities, the lobby and ground-floor amenity.
The investment proposition is further supported by tight conditions in the Gold Coast office market, with vacancy cited in the campaign at 7.7% across all grades and 3.8% for A-grade space.
Beyond its existing income profile, the property's sizeable landholding, Centre zoning and relatively low site coverage provide scope for longer-term asset enhancement or future development, subject to relevant approvals.
A 100% freehold interest in 50 Cavill Avenue is being offered for sale via Expressions of Interest, closing Thursday, 19 November 2026 at 4pm AEST. Marketed by CBRE in conjunction with Savills.
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