Stamford to sell office property in Perth for A$67.8m

Stamford to sell office property in Perth for A$67.8m
Stamford Green (formerly known as Dynons Plaza) is a landmark Grade A commercial office property on Hay Street in Perth

Stamford Land Corporation (Stamford) today announced that the trustee of Dynons Perth Trust, a wholly-owned subsidiary of the Company, has entered into a contract for the sale of land (SPA) with Redhill Partners Investment Pty Ltd in relation to the sale of a commercial office property, Stamford Green (formerly known as Dynons Plaza) in Perth, Western Australia for A$67.8 million.

”The commercial office building remains vacant following the expiry of Chevron’s lease in April 2020, due to the poor leasing conditions and high vacancy in the Perth CBD area, which was further compounded by the COVID-19 pandemic in the beginning of this year,” Stamford Land said in a statement.

Stamford Green (formerly known as Dynons Plaza) is a landmark Grade A commercial office property on Hay Street in Perth.

The 14 storey office building, with its 3 adjacent heritage premises are located at the western end of Perth CBD, with direct access to St Georges Terrace in what has emerged as the oil and gas precinct of the Perth CBD.

”The commercial office building remains vacant following the expiry of Chevron’s lease in April 2020, due to the poor leasing conditions and high vacancy in the Perth CBD area, which was further compounded by the COVID-19 pandemic in the beginning of this year,” Stamford Land said in a statement.