Poly Confident in Australian CBD Capital Markets
Sydney, June 18, 2020 (GLOBE NEWSWIRE) -- Poly Global Capital has recently announced it will return to market to seek capital partners with a 50 per cent offering on two commercial projects; Poly Centre, Sydney and 1000 La Trobe Docklands, Melbourne.
The international real estate business remains confident in Australia’s global gateway CBD markets. Both cities play host to leading local and international business and repeatedly rank highly on liveability scores, attracting global talent.
Poly Global Capital Head of Asset Management Paul Badenhorst said the company is progressing with its long-term growth strategy in Australia.
“Securing partnerships on both projects and the subsequent recycling of capital will enable us to further our real estate investment and asset management expansion plans. The strategy to partner on our flagship commercial projects in Sydney and Melbourne reflects our intention to grow tenfold over the next five years.”
“Scheduled for delivery at the end of 2021 the architecturally notable projects will provide a promising opportunity for investors to access new quality commercial property in sought after locations,” said Mr Badenhorst.
JLL’s Head of International Investments (Australia) Simon Storry said the new product with a combined value of circa $500 Million (on a 50 per cent basis) will appeal to capital in the current environment.
“Despite the current headwinds JLL’s recent national campaigns have highlighted the depth of off-shore capital seeking prime real estate. Given Australia’s current performance during the pandemic Australia’s reputation as a safe haven for investment has only become more apparent,” said Mr Storry.
Colliers International National Director James Barber said Poly Centre Sydney is an exciting offering due to the scarcity of A-Grade assets available in Sydney’s Financial Core.
“Access to stock is the major hurdle faced by investors with over 65 per cent of buyers actively pursuing core strategies with capital focused on a ‘flight to quality,’ said Mr Barber.
Mr Barber highlighted the positive investor sentiment for the Melbourne market with expected rental growth over the next 5 years being the third highest across Asia Pacific at +2.9 per cent per annum.
Simon Storry, Rob Sewell and their team from JLL together with James Barber, Adam Woodward, James Mitchell and John Marasco from the Colliers International’s team are handling the sale on behalf of Poly Global.
Attachments
Jen Reynoldson Poly Global 03 8595 2800 media@polyglobal.com
