Dexus, CPP bank on $200m for ANZ House sale
Property group Dexus and office partner CPP Investment Board have put Adelaide’s ANZ House on the block with expectations of reaping about $200 million.
The pair have tapped JLL and Colliers International to market 11 Waymouth St in the city’s largest on-market offering this year.
US private equity house Blackstone and German fund manager Real I.S. are also selling major towers and international buyers are swooping as the city’s vacancy rate is falling.
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Also known as ANZ House, the tower is home to a number of blue-chip tenants including the bank, Deloitte, architects Woods Bagot, the Australian Bureau of Statistics and the South Australian government.
JLL’s Jamie Guerra, Roger Klem and Rob Sewell and Colliers International’s Craig Shute, Paul van Reesema and Alistair Mackie are selling the complex.
ANZ House is the cornerstone of the City Central precinct, which is the new heart of Adelaide’s premium office market
The building overlooks the GPO and is near Adelaide Central Market, Rundle Mall and Adelaide Oval.
Guerra says the building has a diverse blue-chip tenant base which lowers the income and vacancy risk to investors.
Shute says ANZ House is the cornerstone of the City Central precinct, which is the new heart of Adelaide’s premium office market.
The vendors picked up the premium office tower as part of the take over of the Commonwealth Property Office Fund in 2014 and it was held at $183 million.
The building spans 20 levels of office space, ground level retail, an outdoor colonnade dining area and upper plaza space.
This article originally appeared on www.theaustralian.com.au/property.
