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Sign in Sign up for a FREE subscriptionSuntec REIT buys Sydney office project for $208m
Suntec REIT has agreed to acquire its fourth Australian commercial property, an office project in the Sydney tech hub of Pyrmont, for A$297 million ($208 million).
The seller of the property is 21 Harris Street Developments Pty Ltd.
The class A office building will be completed during the first quarter 2020. The campus-style, nine-story commercial office building is estimated to have a total net lettable area of 203,400 square feet, comprising 181,900 square feet of office space and 21,500 square feet of retail space. And it will have an ancillary cafe, a childcare center and gymnasium, among other facilities. The property is pre-committed to anchor tenant Publicis Groupe, a global communications and marketing company.
Pyrmont is an inner-city fringe area two kilometers (1.2 miles) west of Sydney’s central business district.
