14 November 2016
Sale of 39 Martin Place, Sydney
Dexus (Dexus) and Dexus Wholesale Property Fund (DWPF) today announced the simultaneous exchange and settlement on the sale of their combined 100% interest in the office tower at 39 Martin Place, Sydney, in addition to the exchange on the transfer of the leasehold interest in the Martin Place Shopping Circle which is expected to settle in late 2016.
A total of $332 million will be received for the office tower and shopping circle, representing a significant premium to the property’s book value of $222.6 million at 30 June 2016.
This transaction follows the finalisation of negotiations relating to the compulsory acquisition of the property by Transport for NSW for the construction of the Sydney metro.
Proceeds from the transaction will be used by Dexus and DWPF to repay existing debt facilities.
For further information please refer to the PDF attachment.