Australian Real Estate Investment Trust, Dexus, has sold office property, its 100% interest in 11 Talavera Road, Macquarie Park for $231.2 million.
11 Talavera office property consists of three A-Grade buildings in Macquarie Park, with a diverse mix of office space solutions and designs to suit varied needs, as well as basement and onsite parking, a 5.0-Star NABERS Energy rating and 4.0 star NABERS Water Rating.
The estate’s location close to the M2 motorway off ramp and its abundant onsite amenities make 11 Talavera an enviable workplace for employees, with two cafes, a restaurant, gym, swimming pool, tennis courts and a childcare centre.
With street frontages on Talavera and Lane Cove Roads, its location only 10 kilometres north of the Sydney CBD, nearby public transport options and its close proximity to the retail hub of Macquarie Centre, 11 Talavera ensures all needs of employees and tenants are met. – Located in a growing business park – Flexible office spaces – Abundant onsite amenities
” We have added significant value over the past 3.5 years at 11 Talavera Road, leasing 26,726 square metres to take occupancy to 95.0%.”
Chief Investment Officer, Ross Du Vernet said: “We have added significant value over the past 3.5 years at 11 Talavera Road, leasing 26,726 square metres to take occupancy to 95.0%. We have also progressed a development application for a new 26,000 square metre tower2 , however Macquarie Park is a non-core market for Dexus and this divestment provides capacity to fund development and acquisition opportunities in core markets, in line with our stated strategy.”
Settlement is expected to occur in late June 2019.