Building sits in the centre of Liverpool CBD and is fully leased to the NSW Government until 2022.
International real estate investment and logistics company ESR has announced the sale of 211 Northumberland Street, originally purchased by the company as part of the Denison Portfolio.
The 7,645 square metre NLA building sits in the centre of Liverpool CBD and is fully leased to the NSW Government Department of Family and Community Services until 2022.
At a glance:
Colliers International's James Barber, Frank Oliveri and John McCann in conjunction with Ray White Commercial's Peter Vines and Victor Sheu have been appointed to sell the commercial office building in the Liverpool CBD which is expected to fetch over $50 million.
The sale comes as ESR continue to realise the divestment of their non-core assets to focus on their growing industrial portfolio.
“We expect strong interest given the quality of this asset as well as the lack of opportunities in the market for investors,” said Frank Oliveri, Managing Director of Colliers International Western Sydney.
John McCann, Colliers International’s National Director of Sydney Metro Sales, said that their recent $80 million sale of 1 Fitzwilliam Street in Parramatta represented a circa five per cent return.
“The purchase was via a first-time entrant into the market from off-shore,” he said.
“There's strong interest from off-shore buyers into Western Sydney given the government's decentralisation plans from the Sydney CBD and also the infrastructure spend.”
Ray White Commercial NSW - Western Sydney Managing Director Peter Vines said that with Parramatta currently booming, investors were seeking the next hot spot.
“Given its proximity to the new airport and billions of dollars being invested in infrastructure in the South West, Liverpool is a very good option,” he said.
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