Savills complete sale of two Darwin CBD office buildings for $50 million

Savills complete sale of two Darwin CBD office buildings for $50 million
Savills complete sale of two Darwin CBD office buildings for $50 million

Savills Australia have successfully managed the sale of two Darwin CBD office buildings which have been acquired by Melbourne based property fund Peak Equities for $50 million.

Jack Morrison and Peter Chapple of Savills Capital Transactions introduced the buyer who purchased both Darwin’s Old Admiralty Towers, located at 68 The Esplanade (pictured above), and the nearby Heritage building.

They worked in conjunction with Seth Chin from Darwin’s Chin Associates to sell the assets.

The buildings were both previously a part of the Jalouise property portfolio.

Jack Morrison said, “combining our knowledge of active buyers with Seth’s knowledge of the unique Darwin market yielded a great result for both parties."

Peak Equities currently portfolio is valued at near $250 million comprising nine syndicated trusts operating across retail, industrial and office sectors.

These assets' are the group's first purchase first Darwin purchasse.

Both properties are currently 100 percent leased with a mix of government and established tenants in place/

They have staggered lease expiries and an average remaining lease term of more than 12 years.

“Our client was largely attracted to the opportunity due to the prominent Esplanade location and Darwin’s strong economic growth potential,” Mr Morrison stated.

Tags: 
Darwin Savills

Comments

Be the first one to comment on this article
What would you like to say about this project?