Singaporean sovereign wealth fund GIC is looking to sell a 50 per cent share in Chifley Tower, one of Sydney’s most recognisable skyscrapers, with a $900 million price tag.
GIC currently owns the 53-storey tower developed by the late entrepreneur Alan Bond, whose Bond Corporation bought the original site for $306 million in 1988.
The stake is expected to sell into a highly competitive field of buyers with Sydney’s heated commercial office tower market being driven by historical low vacancy rates and plenty of low-cost funding from superannuation funds and offshore investors looking for trophy real estate.
Article source: https://www.afr.com/real-estate/stake-in-alan-bonds-chifley-tower-up-for-grabs-for-900-million-20180829-h14oqv
Ray White’s top 10 listings for September: (Click on the address to view listing)
Part Level 11, 75 Elizabeth Street SYDNEY
Level 6, 505 George Street SYDNEY
Suite 302, 65 York Street SYDNEY
Level 6, 23 O'Connell Street SYDNEY
Suite 903, 46 Market Street SYDNEY
Part 3, 15 Lime Street SYDNEY
Lower Ground, Shop 2, 88 Pitt Street SYDNEY
Part 13, 131 Macquarie Street SYDNEY
Suite 902, 46 Market Street SYDNEY
Level 4, 387 George Street SYDNEY