Herbert Smith Freehills has advised London-based Brompton Asset Management on the A$70 million sale of its prime office asset in Canberra’s CBD.
Located at 255 London Circuit, the property was sold to Growthpoint Properties Australia Limited, with settlement of the deal finalised this month.
The office building, a crown leasehold interest, is leased to the Commonwealth of Australia represented by the Department of Foreign Affairs and Trade. The current lease term is due to expire in September 2027, with one further option of five years.
The Herbert Smith Freehills team was led by real estate partner David Sinn, who was supported by senior associate Julia Orbach and solicitor Hannah Stevens.
David said: “The sale of this six level office building demonstrated the strength of the Australian real estate market, with strong demand for this prime Canberra asset.”
Growthpoint Properties Australia Limited was represented by Norton Rose Fulbright Australia.