Investors are chasing office properties in Sydney and Melbourne


The market in Sydney is also buoyant, with a due diligence investor of around $ 200 million in the redesigned office building at 10 Barrack Street after a campaign attracted great interest.

Seller AEW bought the building near Martin Place in 2017 for $ 138 million and invested nearly $ 10 million in a refurbishment and repositioning program for the property, which is now one of only seven climate-neutral buildings in central Sydney .

Nearby, the Burcher Property Group at 50 King Street, next to the well-known Hotel CBD, which has been owned by the Hemmes family for many years, has made a big profit.

Burcher bought 50 King Street in 1998 for $ 6.6 million and sold it Tuesday to a private investor with big plans for more than $ 50 million in an off-market deal brokered by CBRE’s Harry George who has sold a number of properties in the area.

Meanwhile, strong initial interest in the Darling Quarter near Sydney’s Darling Harbor is suspected. When it first hit the market, it was quoted at over $ 1 billion for 100 percent of the asset leased to Commonwealth Bank.

Cushman & Wakefield agents Leigh Melbourne, Josh Cullen, Mark Hansen and Nick Rathgeber were active at 510 Church Street, 607 St Kilda Road and 10 Barrack Street.

JLL’s Josh Rutman co-marketed the facility on St Kilda Road. CBRE’s James Parry and Flint Davidson worked on 10 Barrack Street, marketing Darling Quarter with Stuart McCann.

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