Centuria doubles its Redfern Australian Technology Park stake
Centuria Property Funds has acquired a 50% sub-leasehold interest in 8 Central Avenue, Australian Technology Park (ATP) in the newly formed Centuria 8 Central Avenue Fund No.2.
The $110 million purchase gives Centuria full ownership of the Redfern building, after it acquired an initial 50% in December 2013 at a purchase price of $99.62 million.
Built in 2010, the property is located 2.5 kilometres south of Sydney’s CBD, in one of Sydney’s key emerging precincts with major tenants including Pacific Magazines, Seven Network and the NSW state government.
Centuria's Jason Huljich said the new fund will open for investment in early May.
Centuria Property Funds has over $850 million of property under management in 15 unlisted property funds.