DEXUS and DWPF settle on acquisition of 100 Mount Street, North Sydney
DEXUS Property Group (DEXUS) and DEXUS Wholesale Property Fund (DWPF) announced on Friday the settlement of the acquisition of 90 and 100 Mount Street in North Sydney for an initial price of $41 million.
DEXUS and DWPF will develop 100 Mount Street, North Sydney as a 34-level office tower spanning 41,163 square metres, said a release on the ASX.
The site is on the corner of Mount and Walker Streets with a third street frontage to Spring Street. It has retail exposure and is close to transport.
Th tower will have Harbour views from its eastern and southern aspects.
Development on the site has already started and completion is expected in 2018.
The developer has already secured a long-term lease across 6,229 square metres with Laing O’Rourke Australia from completion in 2018.
Recently, DEXUS Property Group had a high-profile departure when Craig Mitchell quit as chief operating Officer for the CEO’s role at Birrarung Marr.
