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Asian investor pays A$115M for Sydney office building purchase

An unnamed Asian investor bought an office block in Sydney for approximately A$115 million, The Australian reported.

The investor secured the nine-story building at 107 Mount St., outbidding 25 other bidders. The 6,675-square-meter property can be redeveloped into a 34-level office tower, according to the publication.

Knight Frank and CI Australia Pty. Ltd. brokered the deal for the sale but did not comment regarding the transaction, the report added.