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| Leighton Properties and Grosvenor sell Parramatta’s ‘Eclipse Tower’ Joint venture partners Leighton Properties, one of Australia’s leading property development companies, and Grosvenor Fund Management have sold Eclipse Tower to Retail Employees Superannuation Trust (REST) for $167.5million, a strong price for the Parramatta CBD. Mark Gray, Managing Director Leighton Properties, said at over $6,500 per square metre, the strong sale cements Parramatta as a location suitable for institutional investment for prime grade commercial property with investors willing to pay for quality office space. Built by John Holland, construction was finished in August 2012. At over 80 per cent leased, the final three vacant floors in the building are currently under offer. Eclipse Tower, at 60 Station Street Parramatta, was developed by joint venture partners Leighton Properties and Grosvenor, and provides 25,700 square metres of office space to Parramatta's CBD. Designed by Fitzpatrick and Partners, who won Parramatta's first design competition under the Parramatta City Council's new City Centre Plan, the building is one of the most prominent and sustainable towers in the city. write your comments about the article :: © 2012 Construction News :: home page |