GPT Withdraws Half Share of MLC Tower After Failing to Draw a Bid

Michael Cameron said the Harry Seidler designed building is better held in the group’s portfolio. The asset needs costly facade works, and needs to be leased in a challenging market. Law firm Freehills will vacate the MLC Centre in 2013 when an expected $17 million refurbishment will likely be required.

It is reported the other co-owner of the building, Brisbane-based QIC Real Estate, has also shelved plans to sell half the building.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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