JUNE 2024
Leading national integrated property investor and developer, Cbus Property, has this week announced its purchase of Dexus Office Trust Australia’s 50 per cent interest in 5 Martin Place, Sydney, taking its ownership to 100 per cent.
Having co-developed the building with Dexus, which was completed in 2015, Cbus Property has exchanged and simultaneously settled the remaining interest and will now have full ownership of the building, increasing its geographical weighting to Sydney.
5 Martin Place is home to a mix of major tenants, including Challenger, HUB24 and WeWork, as well as flagship stores for retailers, COS, Suit Supply and NBA Store.
“This acquisition is testament to our belief in well-positioned commercial investments with industry-leading environmental credentials,” Cbus Property’s Chief Executive Officer, Adrian Pozzo, said.
“As witnessed across our premium commercial office portfolio, our tenant partners are attracted to quality buildings with strong environmental, social and governance (ESG) credentials in prime locations, owned by customer-centric landlords who are focused on supporting businesses and their employees.
“Furthermore, we believe that the future premium commercial office supply pipeline in Sydney’s CBD will be constrained.”
The acquisition of 5 Martin Place complements Cbus Property’s other significant commercial and retail interests in Sydney, the under-construction office building at 121 Castlereagh Street, due for completion in late 2024, and Macquarie Centre shopping centre at Macquarie Park.
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