The former Police Barracks at 61 Petrie Terrace, Petrie Terrace (pictured top), immediately west of the CBD, is in due diligence, according to The Australian, which first broke news of the deal.
More than 90 per cent of the complex is leased to office and retail occupiers. The complex also includes a cinema.
Fortius told the media outlet it saw “upside” in now repositioning the centre and leasing up the vacancies.
Challenger paid Property Solutions and QM Properties $143.95 million for the site in 2014. The vendors in that campaign developed commercial space within the historic site which sat vacant for nearly 20 years before 2008.