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Report: Dexus, Charter Hall left to compete for A$1.6B Melbourne project

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Report: Dexus, Charter Hall left to compete for A$1.6B Melbourne project

Dexus and Charter Hall Group remained as the two parties still bidding for Queensland Investment Corp.'s development at 80 Collins St. in Melbourne after Mirvac Group's withdrawal from the competition for the project that is expected to fetch more than A$1.6 billion, The Australian reported.

Dexus' offer for the property piqued the interest of South Korean funds, while Charter Hall is understood to be seeking support from Singapore's GIC Real Estate Pte. Ltd., according to the publication.

The project comprising a 52-story tower and an under-construction integrated development with office, hotel and retail components is being marketed with the help of JLL and Savills.

The Queensland government-backed funds manager selling the property and the other parties declined to comment regarding the bidding for the property, the March 19 report added.