Sydney Metro Compulsory Acquisitions

Location: Sydney Metropolitan Area (primarily Sydney CBD)

Date: 2016, 2021-22

Type: Office & Retail

Services: Property Advisory, Project Management, Site Identfication, Lease / Sale Negotiations

Description: As a result of the forthcoming Sydney Metro projects, multiple office buildings within the Sydney CBD were compulsorily acquired by the NSW State Government (Sydney Metro). Both freehold and leasehold interest owners in these respective buildings were directly affected and entitled to compensation from Sydney Metro. Over Stage 2 and 3 of the Sydney Metro project, Bramford acted on behalf of circa. 50 clients.

Stage 2 of the Sydney Metro project began in 2016 with the acquisition of several buildings in Martin Place and Pitt Street precincts. Bramford Property provided a full-line advisory service to both owners and tenants of the affected buildings by managing the entire compulsory acquisition process with Sydney Metro on their behalf. This included sourcing and recommending all relevant consultants such as lawyers, property valuers, forensic accountants and removalists; coordinating all consultants and collating required reports; identifying on and off market opportunities to lease / purchase a new premises; negotiating the new lease / purchase; negotiating the compensation claim with Sydney Metro; and project managing the relocation and fitout of the new premises. This ‘one-stop-shop’ service allowed our clients to focus on their day-to-day running of their business whilst we handled the compulsory acquisition process on their behalf.

In 2021-22, Stage 3 of the Sydney Metro project began with the compulsory acquisition of office buildings along George, Hunter, O’Connell and Bligh Streets near Wynyard and two buildings in Pyrmont. Bramford partnered with Spectrum Property & Projects to provide a similar range of services as in Stage 2.