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QIC Offloads Tower To Chinese Group

Screen-Shot-2017-06-05-at-3

Image Courtesy of

Warren And Mahoney Architects 

John Holland beat at least 20 other bidders for the asset with a floor area of 7,357sqm, managed by QIC Global Real Estate through a $600 million wholesale property fund.

The B-grade building, that was formerly the ANZ Bank Building, was completed in 1966 and last refurbished in 2003.

The Australian Financial Review reported that QIC was looking to capitalise on surging office prices in Sydney's CBD, and that strong leasing conditions in Sydney, coupled with surging market demand, provided the group with the optimal settings for a successful sale.

Significantly, the site carries approval for a new building, which would likely include a big box retail outlet.

Property features:

  • 625sqm corner site
  • DA approved (stage 1)
  • North facing with some harbour views
  • 0-Star NABERS Energy rating
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Article originally posted at: https://theurbandeveloper.com/articles/qic-offloads-tower-to-chinese