Oxford wins Grocon's Barangaroo project

Canada’s Oxford Properties has won the rights to Grocon’s $2 billion stake in the Barangaroo Central development. Among those who were also vying for the prime development project were local fund manager Charter Hall and Japan’s Mitsui.

Grocon confirmed that Oxford Properties has been selected as the preferred party. The deal will see Grocon remain as development manager.

Grocon has been under pressure to secure major investors for its stake in the project before its own line of credit runs out in September.

Image source: Wolter Peeters

Article source: https://www.afr.com/real-estate/oxford-to-win-grocons-barangaroo-project-20180620-h11lzg

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