Westlawn Property Trust has recently sold its Buller St Port Macquarie office complex. The property features 180 secured ground and basement car parks, and was purpose built as the Essential Energy Regional Headquarters. 8-12 Buller St Port Macquarie consists of work station and office accommodation for approximately 400 staff.
The 6,214m2 property sold for a net $18.1 million following an extensive Expression of Interest campaign conducted in late 2016. The sale price compares favourably to the property’s book value at the time of $14.0 million.
The Trust will look to recycle this capital into new acquisitions, and we expect to be able to make an announcement in this regard shortly.
8-12 Buller Street, Port Macquarie, New South Wales, Australia