Dexus sells Melbourne’s business park for $306m
Dexus has announced a sale of Axxess Corporate Park, a business park in Mount Waverly, Victoria, for $306.2 million, which according to the independent valuation, reflected a 7.4% premium.
The sale remains a subject to the Foreign Investment Review Board (FIRB), with settlement expected in early July, 2023.
The move followed a recently announced sale of the office tower in Sydney (44 Market St), which took place earlier this month, and together with the sale of Victoria’s business park is expected to bring $700 million.
The sale of a Sydney CBD A grade office building was expected to realise proceeds of $393.1 million, reflecting a 17.2% discount to the December 2022 independent valuation.
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