Asian investors snap up two iconic Sydney buildings from Lendlease
Lendlease has sold finalised the sale of The Exchange at Darling Square and Barangaroo House in Sydney’s CBD for more than $100 million.
Designed by Kengo Kuma & Associates, Darling Square’s The Exchange, known as the “bird nest”, includes a ground floor market hall, mezzanine restaurant XOPP by Golden Century Group and City of Sydney library across two-levels.
Barangaroo House includes three-levels leased by hospitality group Solotel owned by chef Matt Moran and Bruce Solomon.
Bidding on both assets was “highly competitive” with both properties attracting eight bidders, according to CBRE, which negotiated both deals for the separate investors.
“Buyer demand, and acquisition of The Exchange by a first time Australian investor, highlights the continued strong interest in well-located commercial assets that offer strong cash flows and future rental upside,” said CBRE’s senior director Sharon Yang.
Sheridan Randall, 11th October 2019
