Boutique investment firm Hadley Green is poised to buy an office building for about $30 million in Sydney’s Parramatta,
a region expected to benefit from huge infrastructure spending by the NSW government.
The property is a freestanding, modern, seven-storey office at 9 George Street, Parramatta. It is opposite the new justice precinct of
Parramatta, and close to the rail and bus interchange and to Westfield Parramatta. It is understood the sale reflected a passing yield of just under 8 per cent.
The City of Brisbane Investment Corporation (CBIC), Brisbane City Council’s future fund, has snapped up another office building in
Sydney, paying $44.3 million for a Parramatta tower in Sydney’s west.
Boutique property funds manager Hadley Green Investment Group sold the A-grade building at 9 George Street to CBIC,
as part of the group’s asset recycling strategy. The fund manager acquired the property for $30 million in 2015 for one of its
direct property funds.
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