NSW Farmers’ Sydney headquarters hits the market

The peak NSW farmer lobby group is selling its 10-storey headquarters plus a further three-storey asset from its whopping $131m investment portfolio.

Australia’s largest state farming organisation is preparing to sell two commercial assets from its whopping nine-figure property investment portfolio, including its Sydney head office.

From its three-property portfolio, the NSW Farmers Association has listed its 10-storey tower at 154 Pacific Highway, Greenwich, plus a further three-storey, 1684 sqm commercial asset at 40 Oxley Street, St Leonards, both in Sydney’s Lower North Shore.

The lobby group owns a third asset at Lot 231, Topham Rd, Smeaton Grange, which is not on the market.

The Greenwich property was acquired by the lobby group in 2018, becoming the group’s headquarters while the Oxley Street site has been owned since 2010.

According to its most recent annual report (2023-24), NSWFA held a property investment portfolio worth $131.5m, as valued at March 31 2024. Valuers wiped $19.6m off the NSWFA’s properties in the 2024 report, revised down from a value of about $151m, as at March 2023.

NSW Farmers Association’s 10-storey tower in Greenwich.

The report also showed the lobby group increased its borrowing in the 2023-24 financial year with non-current borrowings rising from $31.2m in 2023 to $94.7m last year.

These borrowings were secured against the Greenwich tower plus the St Leonards and Smeaton Grange properties.

Its 2024-25 annual report is not yet published.

NSWFA said it was looking to sell both the Lower North Shore properties to take advantage of the state government’s Transport-Oriented Development (TOD) planning reforms.

Earlier this year the NSW Government announced changes to zoning around transport hubs to target low and medium-density development with an aim of 112,000 new homes within 800m of transport by 2030.

NSW Farmers’ second site for sale- a three-storey building in St Leonards.

Both the Greenwich and St Leonard properties are close to the Crows Nest Metro Station.

“NSW Farmers has been a long-term investor in the Sydney property market as part of its broader investment strategy, aimed at responsibly managing members’ funds and growing the asset base over time,” NSW Farmers said in a statement.

“This growth has been achieved by taking advantage of opportunities from these assets when they arise. NSW Farmers will be reinvesting earnings into high-performing assets.”

Colliers national directors Tom Appleby, Joseph Lin and Guillaume Volz are handling the sale of both properties via expressions of interest closing Thursday, July 17, with 100 per cent freehold on offer.

A price guide for the assets has not been published.

Earlier this year NSWFA resigned from the National Farmers’ Federation, following a letter informing the national farming advocacy group that the NSWFA was terminating its membership, effective 12 months later.