Anton Capital has sold two Sydney office towers for a reported $160 million.
Anton Capital has finalised the sale of two Sydney office towers at 210-220 George Street. Anton Capital, an independent investment and advisory group founded in 2011 by Anthony Kingsley and Tony Martin, has sold the buildings to Poly Group for a reported $160 million.
Chinese Poly Group, a large scale central state-owned business, was founded in 1992. Headquartered in Beijing, it focuses on international trading and real estate as its core businesses. Poly Real Estate has already made several forays into the Australian market paying $80 million for a 7,414-sqm residential site in St Leonards, and developing the Horizon apartments in Epping and the South Yarra Claremont Apartments in Victoria.
According to Sydney Cityscope, the buildings currently comprise a 13-storey office building with parking for 125 cars and a net lettable area of 8,916 sqm and an 18-level, 4,758-sqm commercial building at 210 George Street. Major tenants include Institute of Public Accountants, Fuji Xerox Australia and Godfrey Pembroke. In a move away from residential development, Poly Group apparently intends to take advantage of the location, just 200 metres from Circular Quay, and develop an iconic tower with ground floor retail and as of yet to be decided height.
The two sites last traded together at just under $100 million only a year ago and this sale, at $160 million, reportedly represented a yield of 4.5%.