Local property fund manager Charter Hall is understood to have achieved ‘preferred’ buyer status for what will be this year’s second largest single office tower deal in Australia.
Blackstone, the world’s largest owner of real estate, placed its half-share in Westpac Place on the market in January, with expectations it could fetch more than $800 million. Bidding among the principal contenders - Charter Hall, GPT and Deutsche, representing Korea’s National Pension Service - has pushed the price to more than $850 million.
The property at 275 Kent Street comprises of a 77,000-square-metre tower sitting just a few hundred metres from Barangaroo.
Image source: Andrew Quilty
Article source: http://www.afr.com/real-estate/commercial/charter-hall-dominates-in-westpac-building-tussle-20180508-h0zrzx
Ray White’s top 10 listings for May: (Click on address to view listing)
Suite 1001, 67 Castlereagh Street Sydney
Terrace, 40-42 Young Street Sydney
Various, 94 Beattie Street Balmain
Part 1, 24 Hickson Road Sydney
Ground Floor, 20 Windmill Street
Level 6, 64 Clarence Street Sydney
Suite 604, 46 Market Street Sydney
Mezzanine, 27 Macquarie Place Sydney
Level 8, 27 Macquarie Place Sydney
Suite 1004, 46 Market Street Sydney