GPT has purchased a 50 per cent stake in Sydney’s Grosvenor Place office tower from Commonwealth Superannuation Corporation (CSC) in a deal valued at $860 million. Following the completion of the investment, GPT and CSC will each hold an equal 50 per cent ownership interest in the prestigious property. GPT is a leading Australian property group that owns and manages a diverse portfolio of office, retail, and logistics assets. The company aims to deliver sustainable returns to its investors through active management and strategic development.
The transaction is not anticipated to significantly affect GPT’s earnings for the 2025 financial year. The acquisition will be initially financed using GPT’s existing borrowing capacity, providing flexibility and demonstrating the company’s strong financial position. Grosvenor Place is a landmark office tower located in Sydney’s central business district, known for its premium tenants and prime location.
The acquisition of this stake aligns with GPT’s strategy of investing in high-quality assets in core markets. By partnering with CSC, GPT strengthens its position in the Sydney office market and gains access to a premier property with long-term growth potential. This strategic move underscores GPT’s commitment to delivering value for its shareholders through prudent investment decisions and active portfolio management.
