Office

Two Asian-backed investment groups have tied up deals to buy two of Sydney’s most distinctive buildings, with developer Lendlease reaping more than $100 million from selling the Kengo Kuma-designed The Exchange at Darling Square and a hospitality complex on Barangaroo South’s waterfront to separate parties.

Property developer and builder John Holland is close to securing a buyer for the $350 million office complex it is undertaking in Sydney’s northern suburb of Macquarie Park, with the listed Growthpoint Properties Australia heading the field.

Funds house LaSalle Investment Management is targeting the purchase of a major Sydney tower in Castlereagh St for about $325 million as the rerating of the city’s office market continues.

More than $1 billion worth of towers in the western Sydney hub of Parramatta are in play with Charter Hall Direct’s PFA Fund to become the latest seller by putting Wentworth Place on the block.

Customer relationship giant Salesforce will anchor the building of Sydney’s tallest office tower with the Lendlease development at Circular Quay, the first of a wave of new projects being anchored by hi-tech tenants.

Singapore-listed company Raffles Education Corporation has struck a fresh deal to offload its Parramatta office block, as more than $1 billion worth of towers in the western Sydney hub are in play.

Designed by world-renowned Japanese architect Kurokawa Kisho, 66 Eagle St, has long formed an integral part of Brisbane’s city skyline – and its doors are now open to new owners. 

Impact Investment has received interest on its Northumberland project but says the under-construction office complex in Collingwood, on Melbourne’s city fringe, is not for sale.

Canada’s Oxford Property Group, via its Oxford Investa Property Partnership, is stepping up its asset sale program to around $3 billion with the offer of a major tower in Sydney’s O’Connell St for about $310 million.