olympic park
The two buildings offer almost 10,000sqm of office space. Image Supplied
  • 1.44Ha site offers 9,992sqm of office space
  • EG’s Urban Regeneration Joint Venture aims to purchase up to $400m of commercial property
  • Demand for quality Sydney Olympic Park office space has risen according to Knight Frank

The two A-Grade commercial buildings at 6 Parkview Drive (Quad 2) and 102 Bennelong Parkway (Quad 3) at the Sydney Olympic Park sold for $66.1 million.

The buildings are located 12.5km west of the Sydney CBD on a 1.44Ha site that offers 9,992sqm of office space along with 283 car bays.

The acquisitions represent the first deal for Australian real estate fund manager, EG, in their Urban Regeneration Joint Venture, which will initially result in the purchase of up to $400 million of commercial property.

The previous owners were Growthpoint Properties Australia.

“The modern A-grade properties are well located within the Sydney Olympic Park precinct which is set to benefit from the construction of major infrastructure projects including the Sydney West Metro which will see the precinct directly connected to the Sydney and Parramatta CBD’s via a new station,” said Sean Fleming, EG’s Head of Capital Transactions.

Additionally, vehicle connectivity to the site will be benefitted by the West Connex Project, which was recently completed.

EG currently has over $3.2 billion of assets under its management with $4.3 billion in the development pipeline

Knight Frank’s Tyler Talbot, Graeme Russell and Tim Holtsbaum along with Jason Wright and Chris Bailey of GJS Property facilitated the deal.

“The assets are in high demand as demonstrated by a number of recent leasing deals from tenants seeking quality space in Sydney Olympic Park,” said Mr Talbot.




You May Also Like

“Sydney setting the pace”: CBD office rents march higher

Cushman & Wakefield’s quarterly Office Marketbeat reveals 2.9% quarter-on-quarter uplift in Sydney

Canberra office market shows impressive resilience and growth

The market is underpinned by low vacancy, large developments in the pipeline and strong rental growth

Accenture and Lendlease to expand data insights platform

The platform which uses AI and virtual reality will be expanded to increase digital and in-store visits.

Demand for life science assets on the rise in Australia

Australians are getting older and this is contributing to the increase in demand for life science assets across Australia

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Rentvesting in Australia: A deep dive

Rentvesting offers an alternative path into the property market for priced-out first-time buyers.

Housing crisis survival guide: How to buy your first Australian property

Three property experts give the low down on how to nab a home in this tough housing market.