STOCKLAND Capital Parters, which is responsible for the Stockland Direct Office Trust No 1 (SDOT1) has sold a 50 per cent stake in Brisbane’s Waterfront Place project for $216.4 million.
The Sydney-based developer will also sell 50 per cent of the entity owning the adjacent Eagle Street Pier project to the Melbourne based Future Fund for $16 million, on the basis o f a completed refurbishment.
Stockland will retain a 50 per cent interest in both projects according to an announcement made today (copied below).
The Waterfront place office rises 36 levels and fronts the Brisbane River. Eagle Street Pier is a low-rise 6,200 square metre shopping centre which is currently being refurbished. The sale price for this asset translates to 7 per cent. Sale price coming soon…Read more