MLC Centre, an office property in Sydney that was recently divested by the GPT Group. (Photo: GPT Group)

Australia-listed REIT GPT Group has entered into a binding agreement with Dexus, and Dexus Wholesale Property Fund to divest its 50% stake MLC Centre for AUD800 million.

The property is a class A officer tower and retail complex in Sydney’s central business district (CBD).

Its sale price represents a premium of 3% over the REIT’s book value for the property as at 31 December 2018.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.