Dexus confirms QV1 sale plans

Dexus Property Group has confirmed plans to start marketing its half-share in the QV1 office building later this year through agent CB Richard Ellis.

Its interest in the 43-storey office tower, completed in 1991, is estimated to be worth approximately $350 million.

A Dexus spokesperson said the group is about to appoint CBRE "with a view to looking at marketing our half share a bit later this year".

The remaining 50 per cent is held by Investa Property Group, which is believed to have pre-emptive rights to buy Dexus' stake.

Dexus also owns 100 per cent of the Woodside Building, located adjacent to QV1. The Woodside Building was most recently valued at $446 million in 2008, according to Dexus' web site