Ho Group buys North Sydney office
Singapore based Ho Group has picked up an A-grade North Sydney office for c$95.5 million – a quarter less than the market value and guide when it was listed last June.
The 19 storey building at 124 Walker Street was offered by Dexus on behalf of the Wholesale Australian Property Fund, control of which it acquired last March with AMP Capital’s real estate and domestic infrastructure business.
AMP valued the 11,106 square metre asset at $132m in December, 2022.
The weighted average lease expiry today is much lower – less than 1.8 years.
3P Learning, Shore Financial and NASDAQ listed Vast Energy are amongst the occupiers – the latter only committing to 295 sqm this week following a deal by Cadigal.
124 Walker Street
Ho has now appointed CBRE to manage and lease the asset on the south west corner of Berry St, opposite Berry Square (story continues below).
Stanton Hillier Parker’s Bevan Kenny, Mike Stokes and Shirley Fan brokered the sale.
The Dexus Australian Property Fund has since last year been reweighing its portfolio with less office and more industrial.
Also today we are reporting Lendlease secured Ventia as the first office tenant at the 42 storey, 58,000 sqm Victoria Cross Tower, near 124 Walker St.
Elsewhere in Australia, Ho is behind apartment projects in Perth’s Beckenham, Kewdale, Nedlands and Northbridge.
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