How Much is the AMP House Worth?
The AMP House, also known as the Australian Mutual Provident Society (AMP) building, is a iconic landmark in Sydney, Australia. The building is a symbol of Australia's financial industry and has been a prominent feature of the city's skyline for over 50 years.
History of the AMP House
The AMP House was built in 1962 and was designed by Australian architects, Peddle Thorp & Walker. The building was originally the headquarters of the Australian Mutual Provident Society (AMP), one of Australia's largest financial institutions. The building's design was influenced by the international style of the time, characterized by its modernist and minimalist approach.
Current Value of the AMP House
The current value of the AMP House is estimated to be around AUD 300 million (approximately USD 210 million). This valuation is based on the building's prime location in Sydney's central business district, its historical significance, and its iconic status as a landmark building.
Features of the AMP House
The AMP House is a 26-story building with a total floor area of approximately 35,000 square meters. The building features a unique design with a brutalist architecture style, characterized by its use of concrete and angular shapes. The building's exterior is covered in polished granite and features a distinctive crown-like structure at the top.
Sale of the AMP House
In 2016, the AMP House was sold to a Chinese-based property developer, Aqualand, for AUD 275 million (approximately USD 190 million). The sale was part of AMP's efforts to divest its property portfolio and focus on its core business of financial services.
Conclusion
The AMP House is an iconic landmark in Sydney and a symbol of Australia's financial industry. With an estimated value of AUD 300 million, the building is a valuable asset in the heart of Sydney's central business district. Its unique design, prime location, and historical significance make it a prized possession for any property investor.
Additional Resources
- AMP Limited:
- Australian Institute of Architects:
- Sydney Morning Herald: