Rest has entered into a contract to acquire a one-third interest in the iconic A$2.7 billion ($2.1 billion) AMP Centre tower in the Sydney CBD, in a deal valued at around A$900 million ($692 million).
The remaining interests are owned by the AMP Capital Wholesale Office Fund and AMP Capital Diversified Property Fund.
The 43-level tower at 50 Bridge Street in Sydney’s CBD is being redeveloped into a 50-level premium grade skyscraper to be known as “Quay Quarter Tower”. The tower forms part of a redevelopment of two city blocks by AMP Capital that will include a shopping plaza and residential accommodation near Circular Quay.
