ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Sydney's 77 King Street Sells For $160 Million

feeds-9092h_bb05c2da737ebf05ca7f01a0bb7fa3286a8527bd_620x380

Keppel REIT has sold their 77 King Street asset in the Sydney CBD to ARE Noble Pty Ltd, a wholly-owned subsidiary of Invesco Asia Core Fund, for $160 million. 77 King Street comprises 10,610 square metres of office space across 18 levels, two basement levels of retail space totalling 1,227 square metres and a 773 square metre childcare centre. Its current tenants include Apple, Facebook and Capgemini.

The sale price was 38 per cent above Keppel REIT's original purchase price of $116 million in December 2010 and an approximate 27 per cent premium over the property's latest valuation of $126 million.

Keppel REIT intends to use the sale proceeds to repay existing debt, fund general corporate and working capital purposes and/or for future investment opportunities.

ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://theurbandeveloper.com/articles/sydney-77-king-street-sells