The 29-storey property is a freehold Grade A office building located in Sydney’s centre business district (CBD). It has a net lettable area (NLA) of 38,996.8 sqm (419,758.06 sq ft) comprising 38,805.0 sqm of office space and 191.8 sqm of retail space, as well as 188 car park lots.
The manager of Keppel REIT has entered into a contract of sale to acquire an effective 50% interest in 255 George Street for A$363.8 million ($321.0 million). The contract was entered into between The Trust Company (Australia) Limited, the trustee of Keppel REIT’s indirect wholly-owned subsidiary, and Mirvac Wholesale Office Fund I’s trustee, Mirvac Funds Management Australia Limited, on March 28.
The remaining 50% stake will remain with Mirvac Funds Management Australia Limited.
