Transactions - APRIL 20, 2017

Frasers Centrepoint sells hotel and offices in Sydney

by Andrea Waitrovich

Frasers Property Australia and Sekisui House Australia, the joint venture, partners in Sydney’s Central Park development, have entered into an agreement with Impact Investment Group for the sale of the hotel and commercial space at DUO for $135.8 million.

“We couldn’t be more proud of our first foray into the Sydney market with these properties. We were waiting to find a building developed to the highest standards in sustainability – and we found this in spades in the Central Park precinct,” said IIG CEO Chris Lock in statement.

The option agreements for the purchase includes the 300 room Four Points by Sheraton Sydney, Central Park hotel, which incorporates a bar and lounge with an outdoor terrace, a restaurant with nearly 5,920 square feet of function space, a fitness center, and parking facilities. Also included in the agreement is the commercial office component of 100 Broadway, which consists of a ground floor retail space, more than 58,000 square feet of commercial space, and a large Greenwood Early Education Centre accommodating up to 90 children.

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