Sony Australia headquarters sold for $60m
Sony Australia’s national headquarters in North Sydney has been snapped up by eastern suburbs investor Albert Malki for about $60 million in one of the biggest deals transacted on Sydney’s north shore this year.
The 5200-square-metre tower at 165 Walker Street, owned by the Charter Hall Direct Office Fund, was transacted on a yield of about 5.3 per cent.
The deal was struck by CI agents Bevan Kenny, Mike Stokes and Chris Veitch in conjunction with Inc RE agents Steve Kearney, Josh Cullen and Rick Butler.
The property was 100 per cent occupied with Charter Hall’s office fund having paid
Mr Malki, who owns commercial property in Sydney’s northern suburbs could not be reached for comment on the latest deal. Among his deals in the area is the purchase in 2001 of 12 Help Street from the Industry Superannuation Property Trust for about $67 million.
Standout market
North Sydney has become one of the standout office markets in the country with a tighter vacancy rate than the Melbourne CBD, according to the latest figures from the Property Council of Australia.
Last month an offshore private investor purchased an office building with a scheme for 70 apartments at 8 West Street, North Sydney, for $60 million on a sub 5.5 per cent yield.
The vendors are Property Bank Australia and Security Capital Corporation which, together with RG Capital, also sold another North Sydney building, the A-grade office complex at 116 Miller Street and 173 Pacific Highway, for $135 million this month
