ST Real Estate Holding Inc. (STRE) confirms the successful off-market sale of 223 Liverpool Street, a heritage-listed commercial property in Sydney’s fringe market, to Forza Capital for $64.5 million AUD. The five-level, 4,925 sqm building, fully leased to co-working operator Hub Australia—trading as Hub Hyde Park—was initially acquired by STRE in 2016 for $33 million AUD. The asset was also disposed of because it was nonfitting in the CBD – multitenant vision of the investor.
The transaction, completed amidst a challenging market environment, achieved an internal rate of return (IRR) of 7.78% in AUD. Hub Australia remains the sole occupier of the property, with a weighted average lease expiry of 3.4 years.
Originally refurbished by STRE with an investment of approximately $10 million AUD and carrying a 5.5-star NABERS energy rating, the asset highlights our commitment to sustainable and high-quality refurbishments.
This transaction reinforces STRE’s ability to navigate complex markets and execute timely exits in line with its investment strategy.
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Contact
Matthew Burrows, Managing Director STRE Management AUS | matthew.burrows@strem.com.au
