Dexus take full control of MLC Centre

Dexus, Australia's biggest office landlord, has taken full control over the MLC Centre in Martin Place.

The ASX-listed group already owned half of the building, and have implemented a purchase right over the remaining half that was first listed in January.

It is believed Dexus have paid $800 million.

Just last week Savills Australia’s Ian Hetherington, Simon Fenn and Ben Azar, and Cushman & Wakefield’s Josh Cullen and Mark Hansen were been appointed to market the landmark asset.

The 50% stake, which was owned by the GPT Group, has a book value of $725 million.

The proceeds will be directed to new office and residential towers GPT at Melbourne Central shopping centre and at Parramatta.

GPT chief Bob Johnston said the group’s investment in the MLC centre had delivered investors an “exceptional” return.