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Sydney-based investor group hopes to receive A$250M from building sale

Real estate group Markham is selling an A-grade mixed-use building in Sydney, with an asking price of A$250 million, The Australian reported.

Savills and Colliers International have been tapped to market the multitenanted property at 179 Elizabeth St., which was labeled 179 Hyde, according to the paper. It was purchased by the seller in late 2015 under a A$148.8 million deal with LaSalle Asia Opportunity Fund III, the Feb. 23 report noted.

The 99%-leased building features 16,520 square meters of net lettable area, consisting of 15,686 square meters of office space across 13 levels and 834 square meters of retail space, along with parking area for 116 cars.