This article is from the Australian Property Journal archive
AMP Capital looks to have found a buyer for the 1 Pacific Highway complex in North Sydney, which it is selling on behalf of Middle Eastern interests for more than $114 million.
The 10-level 7,642 sqm building is leased to 12 office tenants and has a 4.5-star NABERS rating.
In a separate transaction, AMP Capital is circling Abacus Property Group’s 32 Walker Street, in due diligence on behalf of a different with the price tag likely to be around the $75 million mark.
Perth-based syndicator Property Bank Australia and financier Security Capital Corporation are looking to take advantage of the heated east coast market conditions and have put their boutique office building at 75 Miller Street in the suburb to the market, hoping to reap around $50 million.
The 4,930 sqm building is on a 777 sqm site and followed the joint venture partners’ divestment of two other North Sydney assets in the past three months, including 8 West St for $60 million and 116 Miller St for $135 million.
Chinese-backed Aqualand has also recently put a North Sydney holding to the market – its 54 Milller Street office tower, which it bought only last year for $54 million from Altis.
Australian Property Journal
