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Sydney office asset hits market with A$190M price tag

Fu Ji Real Estate Development is looking to sell the 10,000-square-meter Kimberly Clark House office building in Sydney for about A$190 million, The Australian Financial Review reported.

The 12-level, B-grade building, leased by consumer goods group Kimberly Clark until 2020, sits on a 2,711-square-meter site at 52 Alfred St. in Milsons Point near the Harbour Bridge and is the last freehold block on the street, according to the report.

A planning proposal has been drawn up for a 27,000-square-meter residential and retail development on the site, the publication said, citing Knight Frank's Andy Hu, who is marketing the property.