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Strong Interest in Sydney Sandstones

10 February 2014
Sydney’s iconic Sandstone Buildings have attracted strong interest from local and international investors, with 35 companies and consortiums participating in the Registrations of Interest phase.

The NSW government recently announced the sale of the iconic Department of Education and Department of Lands buildings on Bridge Street in Sydney's CBD.

The properties have been identified as key hotel and tourism investment opportunities, and have attracted significant interest from local and international investors. Minister for Finance and Services Andrew Constance said the sale of the buildings was geared toward deriving better value from government assets to improve the State’s financial position and deliver essential services and infrastructure.

Mr Constance reiterated the Government's commitment to driving global tourism opportunities in NSW, and spoke with enthusiasm about the potential for the properties to help deliver world-class facilities and accomodation services to the region.

“By setting aside these assets for tourism purposes, we are supporting the NSW Visitor Economy Taskforce which has a goal to increase overnight visitor expenditure from $18.3 billion in 2009 to $36.6 billion by 2020".

“We will ensure we keep investing in the tourism economy and continue creating jobs for the industry.”

Business and Economy Infrastructure Tourism
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