Growthpoint Properties Australia
(ASX:GOZ) has today announced it has purchased the NSW Police Headquarters in Parramatta for $241 million.
The property group will undertake an equity raising of up to $125 million to fund the purchase of the building from AustralianSuper.
The building is in the heart of the Parramatta CBD and positioned close to the $1.6 billion Parramatta Square redevelopment. It includes 444 car spaces and is fully leased with a yield of 7.6 per cent.
Growthpoint Properties has also confirmed its on track for its FY14 distribution guidance of 19 cents distribution and expects its an increase in distributions for the 2015 financial year.
Growthpoint Properties reported half year earnings of $63.5 million dollars to end December 2014.
