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Westralia Plaza sold
Two firms have advised on the sale of 13-storey Perth building to a Chinese property developer for $87 million.
Lara Bullock
Firms: HWL Ebsworth (Insurance Commission of Western Australia); Allens (Zone Q Investments)
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Deal: The Insurance Commission of Western Australia sold the Westralia Plaza to Zone Q Investments.
Value: $87 million
Area: Property
Key players: Undisclosed
Deal significance: The Insurance Commission of Western Australia (ICWA) has continued its divestment of its direct property portfolio with the sale Westralia Plaza on St Georges Terrace in Perth for $87 million.
The 13-storey 10,585 square metre building has been sold to Chinese property developer Zone Q Investments.
The building is fully tenanted to organisations such as Cisco, Michael Page International, ASG and HWL Ebsworth.
Other properties ICWA has divested to date include two shopping centres and another office tower.
