SC Capital Partners, on behalf of its open-end SCORE+ Fund, has expanded its footprint in Australia with the acquisition of 2 Elizabeth Plaza, North Sydney for A$127 million ($82 million).
2 Elizabeth Plaza is a stabilized asset with a diversified income stream. With its prime location and views of the Sydney CBD and Harbour, the property is set to take advantage of a strong leasing market with immediate opportunity to access positive rental reversion.
Located in the core of North Sydney’s Central Business District, the 7,581-square-meter (81,600-square-foot), class B office tower with ground floor retail and basement parking is well positioned to leverage the planned and in-progress public and private investment that will significantly enhance connectivity to a revitalized North Sydney.
North Sydney is a direct beneficiary of the North Shore’s unprecedented infrastructure spending due to strong population growth forecasts for Sydney over the next 20 years.
