Impact Investment Group set for office/hotel Central Park, Sydney stake
Leading Australian impact fund manager, Impact Investment Group, (IIG) has entered the Sydney property market, securing options to buy into Central Park.
IIG, the Liberman family backed entity, has entered into put and call options with joint venture developers Frasers Property Australia and Sekisui House Australia to acquire two of the final properties to be built in the Central Park precinct for $190 million.
The site is partially developed.
On its mid-2018 completion, IIG will acquire the six-level, 5,413sqm ‘100 Broadway’ commercial office property and the 297-room luxury hotel ‘Four Points by Sheraton Sydney, Central Park’.
IIG has established separate investment syndicates for each property.
100 Broadway and the hotel form part of DUO – a mixed use development comprising two towers of residential, hotel, retail, childcare and commercial spaces, designed by the leading global architecture firm, Foster + Partners and local collaborating architect Architectus.
IIG CEO, Chris Lock, said he "couldn’t be more proud" of our first foray into the Sydney market with these properties.
"We were waiting to find a building designed to the highest standards in sustainability."
100 Broadway will integrate with Central Park’s highly efficient systems for power, heating, cooling and recycling water.
The properties will draw power from Central Park’s two-megawatt trigeneration plant, which is expected to reduce CO2-e emissions by 190,000 tonnes over its 25-year expected life.
The DUO towers sit on the north-west corner of the Central Park precinct in Chippendale, facing Broadway and are five minutes’ walk to Sydney’s central train station and bus interchange.
The towers are being built above and around the heritage-listed Australian Hotel, built in 1936 and bought last year by hotelier Bruce Solomon and high-profile chef Matt Moran.
