Investa

Investa Property Group announces sale of a 50% interest in 60 Martin Place

Investa Property Group, on behalf of the Martin Place Trust, today announced the imminent sale of a 50% interest in 60 Martin Place, a prominent A-Grade building at the top of Martin Place in Sydney’s CBD.

The Martin Place Trust is a closed end fund comprising a number of institutional investors and is managed by Investa’s funds management arm.

Investa Property Group will retain its 50% interest in the building.

The 50% interest is being acquired by the Gwynvill Group which also purchased 44 Martin Place in 2008.

The 27,855m² tower is 100% occupied by Westpac and a number of retail tenants. The 4.5 star NABERS Energy and Water rated building has frontages to Martin Place, Macquarie Street and Phillip Street, has outstanding harbour views and adjoins Investa’s award winning Deutsche Bank Place building at 126 Phillip Street.

Commenting on the proposed sale, Investa’s Group Executive, Funds Management, Mr Ian Schilling said, “This is an excellent outcome for all parties associated with the transaction. The proceeds of the sale will be delivered back to unitholders of the Martin Place Trust, thus delivering on the strategy of fund, and Investa Property Group welcomes the Gwynvill Group as a co-owner”.

60 Martin Place also represents a significant redevelopment opportunity in the long term.

Peter Whitaker of Savills brokered the deal between Investa and Gwynvill.

-ends-

For further information contact:
Investa Property Group
General Manager – Marketing, Katie Barton-Harvey
on 02 8226 9391 or 0427 234 862, kbarton-harvey@investa.com.au

About Investa Property Group
Investa is one of Australia’s largest owners of commercial real estate. Headquartered in Sydney, Investa has management & development offices in Melbourne, Brisbane & Perth.

Since its inception in 2000, Investa has grown to control real estate assets of approximately AU$8.1 billion (as at 30/09/09). In 2008, Investa won Australia’s most prestigious prize for addressing climate change, the Banksia Climate Change Award.

Investa has proven experience in three key business areas:
•   Commercial Office Group
Investa boasts a fully integrated commercial real estate business. Investa buys, sells, owns, develops and manages high-quality office buildings in premier locations in Australia’s capitals. This end-to-end business model gives Investa the ability to ensure optimum quality and performance of its properties and its property services.

•   Funds Management
Investa manages a range of wholesale and retail property funds on behalf of over 4,000 clients, who encompass institutions, superannuation funds, industry funds and retail investors.

•   Land Development
Investa undertakes commercial, industrial and residential development in select locations across Australia. Investa’s residential land developments encompass broad-acre subdivisions in New South Wales, Victoria, Queensland and Western Australia.