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.