EG sells 92 Pitt Street, Sydney for $52.17 million
Real estate fund manager EG Funds Management (EG) has secured the $52 million sale of 92 Pitt St, Sydney.
The property was acquired by EG in 2015 for $30.6 million in the midst of the billion dollar revitalisation of Martin Place.
The commercial asset has a net leasing area of 4.642 square metres and, at sale, boasts 94% occupancy.
“The strong result from this sale provides confirmation of a robust and improving Sydney office market and further endorses the original strategy behind the inception of the fund,” says divisional director Daniel Farley.
The asset formed part of Core Plus No. 1, CPFI, a closed ended fund that is focused on providing superior risk adjusted returns for our investors through active management, capital works and refurbishment.
The fund recently divested of 223 Liverpool St, Darlinghurst.
The sale of 92 Pitt St was secured by Knight Frank to a private domestic investor.
