03 Dec 2021

Sale of 201 Miller Street, North Sydney

3 December 2021

Sale of 201 Miller Street, North Sydney

Dexus announces that it has exchanged contracts to sell 201 Miller Street, North Sydney, subject to FIRB approval. The asset is owned by the Dexus Office Partnership, in which Dexus holds a 50% interest.

The sale will realise net proceeds of $152.4 million1, with Dexus’s net sale proceeds initially being used to repay debt.

201 Miller Street, North Sydney is a 14,600 square metre B-grade office building located near North Sydney’s largest retail precinct. At 29 October 2021, the property was 84% occupied with a weighted average lease expiry of 1.9 years.

The sale was the result of an on-market sales campaign.

Settlement is expected in mid-December 2021.

Dexus Chief Investment Officer, Ross Du Vernet said: “This transaction continues our strategy of selective asset recycling and reinvesting into higher returning opportunities, while realising value for both Dexus and our Dexus Office Partner.”

1 Excludes transaction costs.



Rowena Causley

Head of Listed Investor Relations

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