Westpac Banking Corp is said to be considering a reorganization of its property holdings in the Sydney Central Business District.
McVay Real Estate is understood to have been tapped by the bank to assess the sale of 314-318 George Street. If the deal proceeds, the transaction will also include ATG Properties’ 312 George Street. Sources claim that the properties together could sell for $70 million to $100 million.
The major banks, preferring leasing over owning, have considered taking large property holdings off their balance sheets in the past two decades.
Image Source: AAP
Article Source: http://www.afr.com/street-talk/westpac-banking-corp-mulls-offloading-another-sydney-building-20180304-h0wzej?
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