Abacus Property Exchanges Contracts to Acquire 99 Walker Street

  • Nov 22, 2019 AEDT
  • Team Kalkine

Abacus Property Group (ASX: ABP) announced that it has traded contracts to acquire 99 Walker Street, North Sydney NSW, with settlement expected, subject to FIRB approval, by calendar year end.

  • The total amount for the acquisition is $311.3 million (excl. the transaction costs) and reflects circa $16,100 per square metre of net lettable area;
  • The property is a famous A grade building located on the corner of Walker Street and Mount Street in North Sydney;
  • It offers 21 levels of new office accommodation over circa 19,295 sqm of NLA as well as 229 car spaces.

At AEST 12:58PM, the stock was trading at $3.7 per share, up by 0.4% from its previous close.

 

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