CSC doubles investment in premium asset to support reliable retirement incomes

CSC will double its ownership of Grosvenor Place, 225 George Street, Sydney from 25% to 50%. CSC and the GPT Group will each own a 50% interest in the property with completion of the investment expected in December 2025. Based on the agreed purchase price, the total value of Grosvenor Place is $1,720 million.

Grosvenor Place is a landmark 44-level premium-grade office tower located in the financial core of the Sydney CBD. Completed in 1990, the building offers exceptional harbour views, world-class amenities, and direct access to key transport infrastructure.Renowned architect Harry Seidler designed Grosvenor Place like two convex lenses describing it as “a camera on the view” of Sydney Harbour.

CSC first acquired part of Grosvenor Place in 2007. Since inception returns over this have been well ahead of inflation, growing the purchasing power of CSC’s 750,000+ members and their retirement balance.

“The decision to expand our ownership of Grosvenor Place reflects our views on the quality, location and potential of the asset; our demonstrated capacity to leverage potential in our direct investments via pro-active management; and our assessment of the entry opportunity afforded by Sydney CBD office market dynamics.” CSC Chief Investment Officer, Alison Tarditi.