Dexus, the country’s largest office landlord, sold its campus-style office asset in Macquarie Park for $230 million. A 100 per cent of interest in the three buildings was bought by an undisclosed buyer in an off-market sale.
Macquarie Park , located approximately 10 kilometres from Sydney, is the largest business precinct outside of the CBD. However, Dexus chief investment officer Ross Du Vernet said that Macquarie Park was a non-core market for the group, which is on track to book 4 per cent to 5 per cent growth this financial year.
“We have added significant value over the past 3.5 years at 11 Talavera Road, leasing 26,726 square metres to take occupancy to 95 per cent,” Du Vernet said.
According to the half-yearly results released in February, Dexus’ funds from operations was up 9.8 per cent to $353.3 million on the previous period.
Image and article source: https://theurbandeveloper.com/articles/dexus-sells-office-asset-for-231-million-?utm_source=Dezeen
Ray White’s top 10 listings for February: (Click on the address to view listing)
Level 3, 9 Barrack Street SYDNEY
Level 2, 309 George Street SYDNEY
Level 6, 50 York Street SYDNEY
Level 37, 680 George Street SYDNEY
Suite 2801, 25 Bligh Street SYDNEY
Level 4, 63 York Street SYDNEY
Level 3, 61 York Street SYDNEY
Suite 701, 25 Bligh Street SYDNEY
Whole Floor, 33 York Street SYDNEY
Level 1, 64 Clarence Street SYDNEY