Grocon Consortium Gets Started Building Sydney CBD’s Next Skyscraper

EXECUTIVES met at a big pile of dirt in the Sydney CBD, to mark the site which will become that city’s next major skyscraper.

Grocon plans to build an $800 million, 43-level, 54,000 square metre building at the site – which it was announced would have two addresses: 161 Castlereagh Street, and 242 Pitt Street.

Law firm Freehills will access the Castlereagh Street entrance, while bank ANZ will occupy Pitt Street.

The building will be owned by GPT’s Wholesale Office Fund, Grocon and LaSalle Asia Opportunity Fund III, upon completion.

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Thakral Sells Collins Street Hotel and Shopping Centre For $200 Million

LaSalle Investment has paid a speculated $200 million for the Novotel hotel on Collins Street, and neighbouring Australia on Collins Shopping Centre. Thakral Holdings offloaded the assets, after late last month withdrawing two other assets, in Queensland, from sale. Those assets were also expected to reap the company about $200 million. For LaSalle, the transaction

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