Perth's Westralia Plaza sold for $87 million

Perth's Westralia Plaza sold for $87 million

Nick Lenaghan, AFR

One of Perth's most prominent addresses in Perth's CBD has been sold for $87 million to Chinese investors. 

The Australian Financial Review said the building on 167 St George's Terrace was sold by the WA Insurance Commission to Zone Q Investments as part of a large portfolio divestment.

Zone Q is behind a range of residential devleopment projects in Perth, including its Pinnacle project in South Perth opposite Perth Zoo. 

Most recently, Zone Q has embarked on a second apartment project on the corner of Aberdeen and Beaufort streets in Northbridge.

For the Insurance Commission, the transasction leaves just one asset remaining - Westralia Square at 141 St Georges Terrace - in the larger $800 million portfolio it first moved to offload more than a year ago.

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