Mitsubishi buys into $2b Darling Harbour project
Mitsubishi Real Estate has bought a half stake in a $2 billion apartment, office and retail complex, at Darling Harbour.
Mirvac was the seller and will hold the balance of the project, part of its Harbourside precinct.
It is already building: the 48 level tower with 260 apartments, with 35,000 square metres of office space and ground floor retail, secured $800m in pre-sales and a commitment to the commercial area.
Post completion, Mirvac will also manage it.
Harbourside is also set for a hectare sized park and public art – new and upgraded – worth a total $57m.
The deal comes five months since Japan based Mitsubishi Real Estate teamed with Perifa to replace the ex-Balmain Leagues Club with an $800m residential based mixed-use complex.
The Japanese group is also teaming with Lendlease for projects in the CBD – One Circular Quay, One Darling Harbour and 1 Darling Point Rd, amongst them – and in Melbourne’s Docklands, the Quarter East Tower.
This year it has also been seeking to sell stakes in the Sydney CBD’s Salesforce tower, which carries a $2b end value.
Subscribe to our newsletter at the bottom of this page.
