Prominent central-city workplaces – the headquarters of Google in Sydney and Melbourne’s Media House, worth close to $440 million in total – are up for grabs, in a fresh test for the nation’s battered office market.

ASX-listed fund manager GPT Group manages the two assets through its $8.7 billion wholesale office fund, which reported an $846.6 million loss over the 2024 financial year after absorbing heavy valuation writedowns against its portfolio, according to its latest corporate filing.