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Written by Marc Pallisco
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Tuesday, 16 February 2010 08:29 |
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INDUSTRY Superannuation Property Trust has sold a Sydney CBD office building to private group, City Freeholds, for $106.1 million.
The 55 Hunter Street building sold on a yield of about 7.5 per cent.
The sale is the latest healthy office transaction in the Sydney CBD. Last month Investa Property Group paid more than $95 million for a half share in 60 Martin Place, while overseas investors are paying $685 million for the luxury Aurora Place.
Sydney Metro also plans to acquire up to $300 million in CBD property, as part of the first stage of its new rail system.
ISPT picked up 55 Hunter Street in 1998, as part of a portfolio with the 165 Macquarie Street office, the AFR reports.
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