AMP Capital settles on sale of landmark 200 George Street, securing excellent outcome for investors.
ENPNewswire-September 9, 2021--AMP Capital settles on sale of landmark 200 George Street, securing excellent outcome for investors
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Release date- 07092021 - AMP Capital has announced it has settled on the sale of the AMP Capital Wholesale Office Fund (AWOF)'s 50 per cent interest in Sydney's landmark 200 George Street building.
Following a competitive sales campaign that attracted strong interest, both domestically and abroad, AWOF's co-owner, a Mirvac entity, exercised pre-emptive rights to acquire the interest.
The sale price of $578.5 million represented a premium of approximately 12 per cent relative to AWOF's book value prior to the launch of the sales campaign.
AWOF Fund Manager, Kit Georgeos said the sale of the asset achieved a substantial premium for investors and highlighted the strong demand for premium office assets in gateway locations.
'At a significant premium to book value, the sale of 200 George Street is an excellent result for the Fund and its investors and demonstrates the continued strong appetite for prime CBD office assets.
'This result really highlights the strong capability of the broader real estate team including capital transactions and demonstrates why AWOF continues to lead its peers as Australia's top unlisted office fund,' she concluded.
The sale of this asset is in-line with the Fund's strategy and capital management plan.
The AMP Capital Wholesale Office Fund (AWOF) has over $7 billion in core office assets, providing investors with exposure to an office portfolio exclusively located in the markets of Sydney and Melbourne...
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