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Westralia Plaza sold

Westralia Plaza sold

Perth

Two firms have advised on the sale of 13-storey Perth building to a Chinese property developer for $87 million.

Firms: HWL Ebsworth (Insurance Commission of Western Australia); Allens (Zone Q Investments)

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.

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