Colliers International’s Capital Markets team has been appointed as exclusive sole agent to sell Twenty8 Freshwater Place in Melbourne on behalf of The GPT Group and Frasers Property.
Listed fund manager GPT Group and Frasers Property Australia will sell the Southbank tower they jointly own, with the Melbourne landmark expected to realise up to $300million.
The GPT Group holds its 50% stake in Twenty8 Freshwater Place within its wholesale office fund, after buying into its development in late 2007. Colliers International originally sold the site to the then Australand in 2001.
The 33,992sqm tower is fully leased, with a suite of blue chip anchor tenants including resources company MMG, accountancy industry body CPA and engineers Parsons Brinckerhoff.
Colliers International expects the International Expressions of Interest campaign to yield strong competition from active domestic and offshore institutional parties.