Outgoing NBN HQ selling for $600m
Dexus is selling a major Sydney office after a second attempt.
The 35 level tower, completed in 2019 at 100 Mount Street, North Sydney, is speculated to be trading for $600 million – the same price it was reported to be transacting for 12 months ago.
Hines was that suitor, but negotiations didn’t proceed.
BGO and Investa are the latest buyers, following the launch of a public marketing campaign in October.
CBRE’s James Parry, Flint Davidson and Stuart McCann were the agents
100 Mount Street
With 42,000 square metres, 100 Mount Street was 23.5 per cent vacant when listed last year.
The NBN has since announced it will downsize to a nearby office, quitting 20,364 sqm (continues below).
The sale price is against a c$800m valuation.
The deal comes nine months since we reported Dexus sold a half interest in a Pyrmont office, for $290m.
That buyer was AsheMorgan which bought the first 50 per cent stake from Dexus in mid-2022.
Last week Dexus shed a west Sydney industrial estate and medical centre in Brisbane’s exclusive Clayfield.
The group was also awarded a contact to co-develop a 1105 hectare Boral site in Melbourne’s west.
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