EG acquires commercial office buildings in Sydney Olympic Park for $51m
EG, an Australian real estate fund manager, has acquired two commercial office buildings at 6 Parkview Drive (Quad 2) and 102 Bennelong Parkway (Quad 3) in Sydney Olympic Park, NSW for A$66.1 million ($51.45 million). The acquisition is the first deal for EG’s Urban Regeneration Joint Venture, which has the initial capacity to buy up to A$400 million ($311 million) of commercial property.
Located just 12.5 kilometers (8 miles) west of the Sydney CBD, the site spans 1.44 hectares (3.56 acres) offering 9,992 square meters (107,553 square feet) of office accommodation and 283 car bays
“The modern class A properties are well-located within the Sydney Olympic Park precinct, which is set to benefit from the construction of major infrastructure projects, including the Sydney West Metro, which will see the precinct directly connected to the Sydney and Parramatta CBD’s via a new station,” said Sean Fleming, EG’s head of capital transactions. “In addition, the recent