Dexus Funds Management Limited (“DXFM”) as responsible entity of Dexus (“Dexus” or the “Group”) today announced that it has agreed to acquire the 80 Collins precinct, alongside Dexus Wholesale Property Fund (“DWPF”), for a Total Acquisition Cost of $1.476 billion (the “Acquisition”) from QIC Global Real Estate. Dexus will acquire a 75% ownership interest in the 80 Collins precinct and DWPF will acquire the remaining 25% interest.
The 80 Collins precinct is a large-scale site that is strategically located in the Eastern Core of Melbourne’s CBD. The precinct comprises 105,000 square metres of Net Lettable Area (“NLA”) across:
- an existing 47 level A-grade office tower;
- a new 35 level premium office tower;
- a new retail podium with 21 tenancies; and
- a new 255 room boutique hotel.
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