Aware Real Estate has expanded its Australian office portfolio through the acquisition of a 50 per cent interest in 100 Market Street, Sydney, for around AUD226 million, establishing a new partnership with Link Asset Management. The A-Grade office building is one of the CBD’s premier commercial assets.
Located in the heart of Sydney’s CBD, the 28,339 sqm of premium office accommodation across 10 levels is fully leased to a high-quality tenant base including an S&P/ASX 100 listed property investor, a Commonwealth government body and a sovereign wealth fund. The asset benefits from direct integration with Westfield Sydney, excellent transport connectivity and strong sustainability credentials, consistently achieving a 5.5 Star NABERS Energy rating.
Tracey Whitby, CEO, Aware Real Estate said:
“The acquisition of 100 Market Street is strongly aligned with our focus on building a portfolio of high-quality assets that can deliver sustainable outperformance for Aware Super and its members. It is the type of investment we seek to make on behalf of Aware Super’s members – high conviction, well located and supported by strong long-term fundamentals.”
Alek Misev, Head of Property, Aware Super said:
“This was a rare opportunity for the Aware Real Estate platform to acquire a high-quality Sydney CBD office asset with cornerstone government and corporate tenants. Ideally located near transport and retail amenities, the building is well positioned to remain in demand through market cycles while appealing to a diverse range of businesses.
Pete Carstairs, Head of Investments and Capital Transactions, Aware Real Estate, said,
“We are pleased to partner with Link, whose experience with the asset complements our own investment and asset management expertise. Together, we look forward to stewarding the future of this asset through a collaborative partnership focused on long-term performaance, tenant outcomes and value creation.”
This acquisition further strengthens Aware Super’s property portfolio which manages more than $16 billion of assets on behalf of the fund’s 1.3 million members and builds on Aware Real Estate’s portfolio of high-quality office assets, including 145 Ann St in the Brisbane CBD and 207 Pacific Highway in St Leonards.
See the full press release here.
