ISPT sells 55 Hunter Street for $106.1m

Industry Superannuation Property Trust has sold a Sydney CBD office building to private group, City Freeholds, for $106.1 million.

The deal for 55 Hunter Street reflects a c7.5 per cent yield.

Elsewhere for city office deals, recently, Investa Property Group spent more than $95 million for a half share of 60 Martin Place while overseas investors are paying $685m for Aurora Place.

Sydney Metro also plans to acquire up to $300m in CBD property as part of the first stage of its proposed rail system.

ISPT picked up 55 Hunter Street in 1998, as part of a portfolio with the 165 Macquarie Street office.

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Marc Pallisco

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

Marc Pallisco

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