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Report: AMP Capital mulls buying Sydney office tower from Macquarie

Australia's AMP Capital Investors Ltd. is mulling acquiring Macquarie Group Ltd.'s 30,000-square-meter metro station tower at 39 Martin Place in Sydney, The Australian Financial Review reported, citing sources.

The Oct. 4 report came a day after Macquarie started an expression of interest process for the tower, which will be built on the south entrance of the future Martin Place metro station. The group obtained the rights to build two towers at the north and south entrances of the station from the New South Wales government in 2017.

The potential buyer will need to complete the tower by 2024, as set out under the agreement between Macquarie and the government.

A sale of the south tower could fetch more than A$750 million, according to industry sources.