Singapore giant eyes another Sydney school
Winten Property Group is understood to be selling an office turned university, to Keppel’s Education Asset Fund.
The deal for the Charles Sturt campus at 77 Berry Street, North Sydney, is speculated to be about $65 million.
Covering levels two to seven of a major apartment building, with a foyer on the first storey, the strata investment contains 5686 square metres, classified 9B, and 48 car parks.
Winten, led by Garry Rothwell, secured Charles Sturt on a 10 year lease last year.
It acquired the property and a neighbouring site which has since made way for an office, also Microsoft and Nine’s headquarters, 1 Denison St, for c$80m in 2016.
Another Singapore fund backs schools
The Keppel Education Asset Fund also owns two assets worth a total $198m – Sydney schools including the new Pre-12 Reddam House North Shore campus in North Sydney, bought from Built pre-construction early last year for $120m.
Stanton Hillier Parker’s Bevan Kelly, Shirley Fan and Michael Stokes marketed 77 Berry St.
The deal comes a fortnight since we reported Queensland University sold a suburban Brisbane commercial real estate investment to an occupier of three decades.
Eightee months ago meanwhile, Cambridge RE Partners, like Keppel, Singapore based, bought a Waterloo office leased to Taylors College, from Growthpoint.
In March, it acquired a Sydney CBD education asset – 400 Kent St – leased to Queensland University.
That seller was Terraform Capital which held since 2018.
The deal was worth $111.6m.
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