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Western Australia funds manager eyes Sydney site for A$160M

Pindan Capital is looking to buy a development site in St Leonards, Sydney, from the Australasian Property Investments and Wingate Group for at least A$160 million, The Australian reported.

The publication noted that the Perth-based asset manager intends to use the site, which was sold in 2014 by a Charter Hall Group fund for A$96.4 million, for a mixed-use scheme, which will include office and residential spaces.

Savills is tasked to oversee the transaction, according to the May 30 report.

As of May 29, US$1 was equivalent to A$1.34.