Wingate, Chris Lock settle $45.7m office loss
Wingate and IP Generation founder Chris Lock have sold a vacant Adelaide CBD office – a deal we mooted seven months ago.
The pair have taken a major hit selling 77 Grenfell Street – the former South Australian Department of Infrastructure and Transport building – for $45.7 million ex-GST.
The buyer is Les Smith, like the sellers, also from Melbourne.
Settlement occurred on August 31.
The 20 level, 15,888 square metre building is set to be repurposed for student accommodation.
Wingate and Mr Lock paid $103.5m in December, 2018 (continues below).
That seller was German fund manager Real IS.
Colliers’ Jordan Schmidt, Alistair Mackie and James Mitchell, with JLL’s Ben Parkinson, Luke Billiau and Jack Bergin, handled the latest sale.
IP Generation was last March taken over by MA Financial.
Read more about the Grenfell St deal in our February story here.
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