Sydney’s landmark T2 building up for grabs

Sydney’s iconic ‘T2’ building – and its standout paint job – is for sale, offering up a historic corner site with a modern twist.

The property, on Surry Hills’ Oxford St retail strip, is tipped to attract strong interest from hospitality operators, due to its prime position on Taylor Square.

The building, originally a bank, and in more recent years a nightclub, was built in 1910 but given a stunning cosmetic renovation in 2012, with aboriginal artist Reko Rennie delivering an unforgettable new facade.

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Situated on a 350sqm block of land, the three-level building has a net lettable area of 923sqm and is currently owned by the City of Sydney.

CBRE’s Nicholas Heaton, Gemma Isgro and Michael Khouri are steering the sales campaign.

“The future of this property has the potential to redefine Oxford St, bringing new life to one of Sydney’s most loved and renowned streets,” Isgro says.

“Given this property’s position on a prime island site in the trophy location of Taylor Square, 1-5 Flinders St will attract strong buyer interest in the market.”

Khouri says he expects hospitality groups to figure prominently among the potential buyers.

“The freehold nature of the building will also be of interest to owner occupiers looking to secure 100% ownership of their head office, as well as investors keen to acquire a slice of prime Sydney city fringe real estate,” he says.

The expressions of interest campaign to sell the property ends on October 25.