60 Miller Street. (Google Maps)60 Miller Street. (Google Maps)

Dexus has conditionally exchanged contracts to sell its property at 60 Miller Street in North Sydney.

The sale will realise net proceeds of AUD273 million (USD262 million) for the REIT.

60 Miller Street is a 17-level, Grade A office tower with ground floor retail across 19,350 square metres.

It is located in the centre of North Sydney’s financial district and was built in 1987.

At 30 June 2020, the property was 97% occupied and had a weighted average lease expiry (WALE) of 3.5 years.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.