22 December 2017 (Sydney, Australia)
– Today, EG settled on the ANZAC Park West building in Canberra’s Parliamentary Triangle. EG, one of Australia’s leading real estate fund managers, has acquired this asset for the Yield Plus Infrastructure Fund No. 2 portfolio, a $750 million fund that launched late last year.
The ANZAC Park buildings are an iconic part of the Canberran urban landscape. The western
building has been occupied since original construction in 1965, unlike its eastern counterpart,
which has been empty since 1998. The Department of Defence will continue to lease the 17,149
sqm of NLA on a new 10-year lease.
“Anzac Park West offers EG a unique opportunity to capitalise on a strong passing yield in a
superb location over a minimum 10 year period while investigating the planning upside and
highest-and-best use for the future,” says Divisional Director, Daniel Farley.
“EG was an ideal purchaser for the property, given our strong track record with heritage listed
assets, such as the 223 Liverpool Street in Darlinghurst, Sydney and the Kensington Woolstores
building in Kensington, Victoria.”
The building acts as the southern gateway to ANZAC Parade, between Lake Burley Griffin and
the Australian War Memorial.
The vendor was the Department of Finance and the deal was brokered by Tony Massaro of PwC.
The adjoining ANZAC Park East was purchased by Amalgamated Property Group.
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