APNIC office sale: A$9.5m proceeds, a board deadline

APNIC Sold Its Office. The Board Put the Cash on a Timer.

Why it matters

A$9.5 million changed hands. The registry booked a short-term loss and a lifetime gain, then parked the proceeds while it works out what the new lease costs.

Theo March2 November 2026Reading Time 2 minLast update: 2 November 2026

APNIC’s board authorised temporary deposits for office-sale proceeds while reserving a later property decision.

Summary

APNIC reported a A$941,702 point-in-time fair-value loss on its office sale and a A$3,859,003 pre-tax gain over the ownership period.
Its council authorised low-risk term deposits for the net proceeds, with no placement extending past 31 December 2027 without another vote.

A building can make money for its owner over seventeen years and still disappoint the accountant on the day it is sold. APNIC’s Executive Council minutes put both readings on the page. Management reported a A$941,702 fair-value loss, measured against an earlier valuation after sale costs, and a A$3,859,003 gain before tax across the full ownership period. Those are different clocks. The council adopted the minutes on 19 October after its 6–7 September meeting.

The sale of 6 Cordelia Street had settled for A$9.5 million plus GST. APNIC had moved into temporary accommodation; work on the proposed replacement lease and fit-out was still under way. The council’s answer to the cash question was unusually precise. Under unanimous Resolution 2026-09-03, net proceeds can go into one or more low-risk, interest-bearing term deposits, including GST collected until it must be remitted to the tax office. The Secretariat may choose the best available term and rate, or a shorter term to retain flexibility. Each placement lasts at most 12 months.

Any deposit, rollover or replacement reaching beyond 31 December 2027 needs another council approval.

The forecast makes the waiting period valuable. APNIC’s approved 2027 budget expects A$1,771,078 of investment income, 54.9% above its 2026 forecast of A$1,143,658. Management attributed the increase mainly to portfolio returns and short-term interest on sale proceeds, and said the extra sale-related income would not recur. The same minutes say the new office lease is the principal driver of higher operating costs in 2027. Councillors requested a comparison of investment returns and lease costs for a property-strategy discussion in the first quarter of 2027.

The published minutes give no executed rent or deposit rate; those two figures will decide that comparison.

Source: APNIC Executive Council minutes, 6–7 September 2026.