Keppel REIT announced yesterday it has entered a contract of sale to acquire 50% interest in the 29-storey A-grade office building at 255 George Street, Sydney, for $363.8 million from Mirvac Wholesale Office Fund 1.
The building was formerly known as NAB House and won the BOMA award for excellence for 1985. It comprises 3 levels of basement parking for 219 cars, a ground floor banking chamber, 29 levels of offices and 2 floors of plant room. It was internally refurbished in 2010 by Buildcorp Interiors at a cost of about $45 million and upgraded in 2021 and 2022. It has a net lettable area of 39,940 sqm with typical floor of 1,217 to 1505 sqm.
The sought after building leased to various companies with major tenants including eftpos Australia, Bupa and Bank of Queensland.
CoreLogic Australia