525 George Street Sale Kicks Off with 43-Level Mixed-Use Tower Approved
EVT Limited has officially kicked off the sale process for its prime Sydney CBD property at 525 George Street, offering a rare mixed-use development opportunity with significant growth potential.
- Formal sale process for 525 George Street commenced, led by CBRE
- Site includes Stage 2 Development Approval for a 43-level mixed-use tower
- Development plans feature luxury apartments, a 5-star hotel, cinema, and retail space
- Sale aligns with EVT’s capital recycling and growth strategy
- International expressions of interest campaign closes 25 July 2025
A Landmark Property Hits the Market
EVT Limited has taken a decisive step in reshaping its asset portfolio by formally commencing the sale process for its iconic Sydney CBD property at 525 George Street. This move, managed by global real estate giant CBRE, marks the first time in over a century that this prime site has been offered to the market, underscoring its rarity and significance.
A Development Opportunity Poised for Growth
The 1,800 square metre freehold site comes with a highly favourable Stage 2 Development Approval for a 43-level mixed-use tower. The project blueprint includes 98 luxury apartments, a 285-room 5-star hotel, a state-of-the-art cinema complex, and vibrant retail spaces. Positioned in a bustling precinct with excellent transport links and proximity to key Sydney landmarks, the site is primed to attract both local and international developers and investors.
Meeting Market Demand and Capitalising on Tourism
CBRE representatives highlight the strong market fundamentals underpinning the sale. Residential demand in Sydney’s CBD is rebounding, driven by young professionals and downsizers seeking urban living. Meanwhile, the hotel component taps into a market experiencing robust revenue growth and an expected surge in international visitors over the coming years. The inclusion of a luxury cinema and retail frontage further enhances the site’s appeal as a dynamic entertainment and lifestyle destination.
Strategic Capital Recycling for Future Growth
EVT’s CEO Jane Hastings emphasised that the sale aligns with the company’s broader strategy to recycle capital and pursue new growth avenues. By unlocking value from this landmark asset, EVT positions itself to reinvest in opportunities that can drive long-term shareholder value. The sale process, running through an international expressions of interest campaign closing on 25 July 2025, will be closely watched by market participants eager to gauge investor appetite for premium Sydney development sites.
Looking Ahead
While the sale price and buyer remain unknown, the transaction promises to be a bellwether for Sydney’s commercial property market. The outcome will not only impact EVT’s financial position but also signal broader trends in urban redevelopment and investment confidence in Australia’s gateway city.
Bottom Line?
As EVT moves to unlock value from 525 George Street, the market awaits the next chapter in Sydney’s evolving skyline.
Questions in the middle?
- Who will emerge as the leading bidders in this high-profile sale?
- What timeline will the new owner set for commencing redevelopment?
- How will EVT redeploy capital from this sale to fuel future growth?