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Google agrees to buy 2 Sydney sites from Aqualand for A$150M

Alphabet Inc.'s Google Inc. signed a more than A$150 million deal with Chinese-backed developer Aqualand for the acquisition of Channel Seven's headquarters and car park in Sydney's Pyrmont suburb, The Australian reported.

The properties at 6 Darling Island Rd. and 34-38 Pirrama Rd. include three buildings that are leased to the television network until Nov. 30, the publication noted. The assets came into Aqualand's possession in 2015 following a A$180 million transaction.

Google, as part of its hunt for a long-term home in Sydney, has been building up control over the Darling Island precinct in the city, The Australian said. Ahead of the CBRE-brokered deal with Aqualand, it signed an agreement with Mirvac Group in January to lease all the space that Fairfax Media will vacate in the developer's 1 Darling Island Rd. building.

Currently, the technology giant occupies the entire workplace6 property across the Channel Seven complex. Its ongoing search for a Sydney base has piqued the interest of Dexus the diversified property developer plans to secure Google as the anchor of its office tower near Central Station.