North Sydney Commercial Property News

Property developers are ending the year by unveiling a series of major projects in Sydney and Melbourne, in a sign their confidence has not waned in the face of weak demand for residential property.

British group M&G Real Estate has teamed up with the wholesale funds arm of Investa Property Group to take a stake in Coca-Cola Place in North Sydney in a deal valuing the entire building at about $440 million.

South Korea’s National Pension Service is edging closer to selling two major office towers in North Sydney and Melbourne worth more than $500 million.

M&G Real Estate, a unit of British insurer Prudential PLC, is eyeing the purchase of a half stake in the prominent building in North Sydney known as Coca-Cola Place, which is being offloaded by South Korea’s ­National Pension Service in a deal valuing the entire tower at close to $450 million.

Global finance and insurance group Zurich Financial Services is looking to tap into the surge of interest in major towers in North Sydney and will offer the $350 million-plus building it is developing for sale.

Hong Kong billionaire Francis Choi has sealed a deal to buy a half-stake in the $600 million Northpoint Tower in North Sydney from Cromwell Property Group’s long-time South African backer, Redefine Properties.

The US consulate will move from Sydney’s CBD for the first time in 25 years, and into North Sydney. 

A private Asian investment house is in advanced talks to buy a half-stake in the $600 million Northpoint Tower in North Sydney from Cromwell Property Group’s South African backer, Redefine Properties.

Property giant Grocon has had a $200 million contract for a North Sydney office tower terminated amid a refinancing deal that saw construction scion Daniel Grollo arrange to pump funds into the company.