02/12/2011 - 09:34

Half stake in QV1 snapped up for $310m

02/12/2011 - 09:34

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Half stake in QV1 snapped up for $310m
Dexus Property says the sale price achieved for its stake in QV1 reflects the strength of Perth's office market.

Dexus Property Group has finalised the sale of its 50 per cent stake in Perth office tower QV1 to Commonwealth Superannuation Corporation for $310 million.

Dexus sold the half stake in the building on behalf of SAS Trustee Corporation.

“STC sold its interest due to strategic portfolio rebalancing,” Dexus portfolio manager Steve Gray said.

“The sale price achieved reflects the quality and leasing status of the propeorty combined with the strength of the West Australian economy.”

The 43-storey tower was completed in 1991 and is fully leased to a host of blue-chip tenants, including Shell, Chevron, Texaco, PwC, Worley Parsons, Allens Arthur Robinson and Freehills.

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