Mirvac Group
(ASX:MGR) says it has won a tender to acquire and redevelop the Australian Technology Park in Sydney for $263 million.
A Mirvac-led consortium which includes AMP Capital fund AWOF and Sunsuper, tenant the Commonwealth Bank and building owner Centuria will redevelop around 93,000 square meters of office space and another 3,000 square meters of office space, retail outlets, a gym and a crèche.
The historic Locomotive Workshop which formed the heart of the Everleigh railway workshops will also be redeveloped into multi-purpose A-grade workspaces for start-up businesses.
Mirvac will pay an upfront commitment of $106.3 million for 33 per cent of the Commonwealth Bank development lots and 100 per cent of the Locomotive Workshop and National Innovation City.
Mirvac reported a net profit of $609.9 million for the 2015 financial year.
