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Centuria Capital Set To Buy Remaining Stake In Seven HQ

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Centuria Capital is on track to buy the remaining half of Seven Network's headquarters in inner-city Sydney.

As reported in The Australian Financial Review, one of the group's unlisted funds are attempting to acquire the 50 per cent stake in the ground lease for close to $11o million.

The site is located in the heart of Sydney's Australian Technology Park on 8 Central Avenue.

Speaking to The Australian Financial Review, Centuria CEO of Unlisted Property Funds Jason Huljich said the property has strong forecast distributions of 8.5 per cent in the first year and 8.75 per cent in the second.

"CBD markets currently provide limited acquisition opportunities, coupled with historically low yields," Mr Huljich said.

"As such, investors are increasingly seeking core office investments in non-CBD markets."The Australian Technology Park precinct is located just 2.5 kilometres from the CBD and is one of the fastest growing technological and commercial hubs in the state with a number of government and blue-chip tenants.

 

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Article originally posted at: https://theurbandeveloper.com/articles/centuria-capital-set-buy-remaining-stake-seven-hq