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Foreign raiders set to push price for EY Centre to pre-pandemic levels


Foreign raiders set to push price for EY Centre to pre-pandemic levels
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Intense competition from international investors for a 50 per cent stake in the blue-chip EY Centre in central Sydney could push the price to pre-COVID-19 levels, after a year of workplace disruption threatened values for even prime CBD office towers.
Final offers closed on Monday with price predictions swinging between $550 million and $580 million for the half share, being sold by the AMP Capital Wholesale Office Fund (AWOF).
A 50 per cent share of EY Centre at 200 George Street, Sydney, is up for sale and has attracted strong interest from international investors.   ....

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Office landlords defy market conditions with new lease deals


Office landlords defy market conditions with new lease deals
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Leading office landlords are defying the pandemic-hit market with a swathe of new lease deals in the premium-grade echelon, albeit with higher incentive packages to entice tenants to get workers to return to the city-based properties.
AMP Capital, Dexus and Investa have all inked new deals in the past few months, with directors saying demand for premium-grade towers is buoyant.
AMP Capital s Quay Quarter Tower at Sydney s Circular Quay.
Leasing agents have said incentives in rent contracts stand at an average of 22-30 per cent across city-based assets. ....

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