Investa eyes pair of Dexus offices
Investa is understood to be in negotiations for a pair of east coast offices – a c$700 million outlay.
The deal with Dexus includes 123 Albert Street, Brisbane (pictured, top) – a 26 level building renovated in 2004.
With 39,300 square metres and 394 car parks, it is tenanted to, amongst others, Boeing and the state government.
It was valued at $464m in December, assuming a 6.75 per cent market cap rate; vacancy is four per cent.
Investa is speculated to be paying about this.
The Bond Barangaroo
Meanwhile in Sydney’s Barangaroo, The Bond at 30-34 Hickson Street, also forms part of the portfolio (continues below).
Over nine floors with an activated rooftop, completed in 2004, it contains 19,500 square metres (the average floor area is 2000 sqm) and 113 car parks.
On an acre (like 123 Albert St), a neighbouring heritage building is also included.
Dexus valued it at $264m in December.
Investa is understood to be paying c$230m after a c$280m deal with AsheMorgan last year didn’t proceed.
CBRE’s James Parry, Flint Davidson, Mitch Noonan and Perle Narumitrekagarn with Savills’ Ben Schubert, Seb Turnbull and Adrian Bokolis were the agents.
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