CBRE GI pays A$350m for Zurich Financial’s new Australian HQ

CBRE Global Investors has paid A$350 million ($239 million) to buy a North Sydney office tower currently being developed by Zurich Insurance Group.

The office, located at 118 Mount Street, will be 25 stories high and will be occupied by Zurich Financial Services Australia, serving as its head quarters. It will occupy 64 percent of the building.

Located on the eastern side of the North Sydney precinct, the property is well-located adjacent to the motorway that runs over the Sydney Harbour Bridge and provides uninterrupted harbor and city views from the majority of levels. With completion expected in the fourth quarter 2020, it boasts three street frontages and will feature 817-square-meter floor plates, a lobby café, rooftop terrace and high-quality end-of-trip facilities. The building is also expected to feature high sustainabil