GDI Property Group’s GDI No. 40 Pty Limited has exchanged contracts to sell 80 George Street for $51.88 million, a property which it acquired for $38.70 million, in April 2015.
An Asian private group purchased the 8181-square-metre building on the corner of Smith and George streets, in what is considered the heart of the Parramatta financial core and close to public transport.
GDI Property Group also successfully negotiated an extension of Westpac Banking Corporation’s lease through to 30 September 2020.
Elsewhere in the CBD, a 3-storey office and retail building, at 292-298 Church Street, has been sold for $9.75 million to a local buyer.
The site of 789-square-metres is zoned B4 Mixed-Use
The property, with an annual rental of $400,000, is leased to the Sicilian restaurant until 2020
