AMP Capital has listed a third interest in its 50 Bridge Street property

AMP Capital has listed a third interest in its 50 Bridge Street property
AMP Capital has listed a third interest in its 50 Bridge Street property

AMP Capital has listed a third interest in its 50 Bridge Street property, which is part of the group's $2 billion Quay Quarter Sydney development at Circular Quay.

AMP Capital has appointed JLL and Macquarie Bank to advise on the sale, Fairfax Media advised.

It is expected 50 Bridge Street will attract capital from domestic and international investor

AMP Capital has listed a third interest in its 50 Bridge Street property

The NSW government's planned $200 million upgrade at Circular Quay coincides with the projects by AMP Capital, Lendlease, Mirvac and Wanda at the northern end of the CBD.

AMP Capital confirmed recently to The Australian it will kick off the office component of its $2 billion Quay Quarter Sydney development next January after selling close to $400 million worth of luxury apartments in the broader harbourside precinct it is overhauling.

AMP Capital has listed a third interest in its 50 Bridge Street property

The office tower is being started as the financial services group has pre-committed to take about 40 per cent of the office space and inquiry on the project is strong.

“We remain on track to commence development in January next year,” AMP Capital managing director, office and industrial, Luke Briscoe said.

Meanwhile AMP Capital’s Wholesale Office Fund (AWOF) will take a stake in Brookfield’s Wynyard Place development in Sydney, agreeing to acquire a 25 per cent interest in the completed development. 

AMP Capital’s separate account client UniSuper has also committed to a 24.9 per cent interest in the completed development. 

A private real estate fund managed by Brookfield Asset Management (NYSE: BAM) has appointed a local subsidiary of Brookfield Property Partners L.P. (NYSE:BPY) to undertake the development of Wynyard Place, which will be a significant mixed use precinct bounded by George Street, Margaret Street and Carrington Street at Wynyard in Sydney’s central business district. 

Wynyard Place’s centrepiece is a 67,000 sqm, 27-level premium grade commercial tower, which is 45 per cent pre-committed by National Australia Bank (NAB).

The development will also include restoration of the historic Shell House and 285 George Street.

In addition, 3,500 sqm of high-end retail will be created together with a revitalised Wynyard Lane and a major upgrade to Wynyard Station’s George Street entrance connecting to a grand transit hall and public concourse.  

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