Big stake in Sydney’s own Eiffel Tower up for grabs

A share of the AWA Building in Sydney has hit the market, offering potential buyers “valuable strata control” of the art deco office tower.

A 50.2% stake in the heritage-listed building at 45-47 York Street has been listed for sale by expressions of interest.

On offer is 2578sqm of office space across nine levels in the 14-storey building.

The face of the 86-year-old heritage-listed building has been carefully preserved. Picture: realcommercial.com.au/buy

Completed in 1939, the building is best known for its 46-metre high radio transmission tower, which was inspired by the Eiffel Tower in Paris.

It served as the head office for Amalgamated Wireless Australasia, a telecommunications company that operated radio networks across Australia and manufactured radio equipment, television receivers and electronics.

The building was a dominant feature of Sydney’s skyline for much of the 20th century, and with a total height of 112 metres, it reigned as Sydney’s tallest building for almost 20 years until the AMP building at Circular Quay claimed the title.

The 112-metre building was once the tallest in Australia. Picture: realcommercial.com.au/buy

The transmission tower is no longer operational, but many heritage features of the building have been carefully preserved, including its marble-clad lobby and a winged pegasus on its facade.

While the building is now dwarfed by nearby skyscrapers, its position close to Wynyard train station and its distinctive tower mean it remains one of Sydney’s most prominent buildings.

The lobby retains its original marble-clad interior. Picutre: realcommercial.com.au/buy

Selling agent Andrew Harford of Knight Frank said the 50.2% stake in the building would give the buyer the majority of voting rights in the strata scheme, and a strong position to acquire the rest of the building over time.

“You’d have a very, very big seat at the table,” he said. “There’s a pretty clear pathway to full ownership.”

The art deco office building benefits from close proximity to Wynyard train station and bus interchange. Picture: realcommercial.com.au/buy

There are several vacancies in the portion of the building on offer, the listing states, including levels two, six and seven, which has been newly fitted, as well as part of level two.

Mr Harford said there was interest in the stake from $30 million, with expressions of interest closing March 26.