Frasers Centrepoint sells DUO hotel and offices in Sydney for $199 mil

SINGAPORE (April 20): Frasers Centrepoint’s Australian division and JV partner is selling Sydney’s Four Points by Sheraton hotel in Central Park and some associated office space for nearly A$190 million ($199 million).

Frasers Property Australia and Sekisui House Australia on Thursday announced that they have entered into option agreements with Impact Investment Group (IIG) in relation to the sale of the hotel and commercial space at DUO, situated on the north-west corner of the Central Park precinct in Chippendale due for completion in mid-2018.

The option agreements includes the 300-room Four Points by Sheraton Sydney, Central Park hotel, which incorporates a bar and lounge with an outdoor terrace, a restaurant, nearly 550 square metres of function space, a fitness centre and parking facilities.

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