Dexus prepares 140 George St

Back in June 2018, Dexus announced that it had settled on the sale of the trading opportunity at 140 George Street, Parramatta to the Dexus Office Partnership. Though Dexus did not reveal the price, the transaction now registered at the titles office, reveals that the site was sold for $25.0M. The site forms part of Dexus larger land holdings spanning 130 – 150 George Street. Part of the site which also backs onto Philip Street was recently developed into a 25,000sqm office tower and sold to Charter Hall for $229M on a 5.3% yield. The development of 140 George Street was approved in May 2018 and will consist of an A-Grade office building with 45,700 square metres of office space. On completion, the site could be worth up to $420M. Dexus are yet to secure any tenant pre-commitments. #ReDataSource #Mapletree #Commercial