In an off-market transaction, we have successfully purchased a new HQ for the recently re-named Police Bank (previously Police Credit Union). The purchase price is north of $12 million, and includes 1300 sqm of office space over 2 levels, 2 ground floor retail premises and 11 car spaces.
The building will be ready for occupation in July, 2015, when the Police Bank’s lease expires at Level 27, 1 Market Street, Sydney. The building is being developed by Stasia Pty Ltd, led by George Karageorge.
Police Bank have been clients of Maunsell Property Consultants for over 19 years. This is a significant departure for the Police Bank to escape the rent rate race and gives them a great opportunity to plan for the future and have a custom-made premises. We congratulate Police Bank on this significant milestone and wish them well in the move.