Dexus announces that it has unconditionally exchanged contracts to sell 1 Margaret Street, Sydney, an A grade office building located in the western corridor of the Sydney CBD with a WALE of 2.1 years and occupancy of 93.7%.
The sale will realise proceeds of $293.1 million, in line with the 30 June 2023 book value. Settlement is expected to occur in October 2023.
Dexus will attain a $50 million equity interest in the trust that will hold the property and be managed by the incoming purchaser.
This transaction adds to the $1.8 billion divestments announced by Dexus in FY23.
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