Eureka Funds Management Pays $83.2 Million For Sydney CBD Office

IN one of the first major CBD office transactions for the year, Eureka Funds Management, on behalf of the Aria Property Trust, has purchased an investment in Sydney.

Allianz Australia, as vendor, is reported to have achieved a sale price of $83.2 million for the 17-level, 14,962 square metre office at 55 Clarence Street.

The building is 98 per cent occupied to tenants including AAPT, Allianz Australia and Gray & Perkins Lawyers.

The sale price reflects a yield of about 8.4 per cent. CB Richard Ellis agents Josh Cullen and Rick Butler negotiated the deal.

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Sydney Metro Spends $120 Million Acquiring Sites

Kristina KeneallySYDNEY Metro, the government arm which will commandeer the construction of the city’s new metro rail system, has paid $120 million for offices in the city centre.

NSW Premier Kristina Keneally said Sydney Metro had now stopped buying sites, until the government makes its final decision about the project “shortly” – but a further  $180 million on property acquisitions is put away to be spent, to fund the project, the AFR reports.

Sydney Metro confirmed it has purchased 30 and 36 Clarence Street and 131 Bathurst Street, in the Sydney CBD, and two smaller offices in Rozelle, in the city’s inner west.

 

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