Forrest family purchases Sydney’s Waldorf Astoria in $520m deal
The private investment arm of the Forrest family has snapped up Australia’s first Waldorf Astoria Hotel at Sydney’s Circular Quay in a deal understood to be worth just under $520 million.
Under the agreement, Tattarang will purchase the to-be-constructed 25-storey tower that is part of the $3.1 billion One Circular Quay project from Lendlease (ASX: LLC) and its joint venture partner Mitsubishi Estate.
The deal will also see Fiveight – the Perth-based property arm of Tattarang – own 430sqm of ground floor retail and 11 tenancies, including in the adjacent One Circular Quay residential tower that Lendlease and Mitsubishi will retain.
Comments
Post a Comment