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Australian funds manager places government office on the block for A$170M

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Australian funds manager places government office on the block for A$170M

Property funds manager Warrington Property is selling a six-story office building in the Northbridge suburb of Perth, Australia, for more than A$170 million, The Australian reported.

Warrington purchased the building in 2015 from Germany's Deka Immobilien Investment GMBH for A$101 million with backing from Goldman Sachs Group Inc., with the investment bank also providing funding to give the property a A$62 million revamp.

The property at the corner of William and Francis Streets is occupied by the Australian Taxation Office and other federal government offices. It offers over 23,000 square meters of leasable space, plus more than 1,200 square meters for retail.