50% interest sale in Sydney's World Square complex
Jones Lang LaSalle is marketing the sale of a 50% interest stake in Sydney's World Square on behalf of Brookfield through an expressions of interest campaign closing Thursday, 12 November.
World Square, which takes up an entire city block, is bounded by George, Pitt, Liverpool and Goulburn Streets.
World Square features a Coles Supermarket, six mini-major tenancies, 97 specialty tenancies and a car park with 522 spaces.
Simon Rooney, JLL’s head of retail investments Australasia said a surge in apartment developments in the Sydney CBD has and will continue to directly benefit World Square over the next two to three years.
"One of World Square’s great attributes is its potential to deliver income reversion," he said.
"Investors are increasingly focusing on assets with the strongest income growth potential, a key driver in capital value enhancement, in an environment where yields have compressed significantly across all the real estate sectors.
World Square was rated number two in the country for the highest Moving Annual Turnover (MAT) with $248 million and number three for the highest MAT/sqm with $18,188/sqm, according to the 2015 Shopping Centre News “CBD Guns” survey.
