CommercialClare BurnettFri 24 Jul 26
Aware Pays $226m for Control of Sydney’s 100 Market Street
Aware Real Estate has acquired a 50 per cent interest in a Sydney A-Grade office building from its Hong Kong-based owner.
The real estate arm of Aware Super paid $266 million for the controlling stake in 100 Market Street, Sydney, establishing a new partnership with co-owners Link Asset Management, Asia’s largest REIT.
The 10-storey office is fully leased to ASX-listed Scentre Group, operator of the Westfield shopping centres; corporate regulator ASIC and Australia’s sovereign wealth fund, Future Fund.
Link bought the site in 2019—its first acquisition outside Hong Kong and Mainland China—for $683 million from Blackstone.
Blackstone had acquired the tower in a $1.52-billion deal with Scentre Group earlier that year.
The latest sale values the entire 100 Market Street property at $452 million.
That was a 33 per cent markdown on its value of seven years ago, reflecting a challenging market for even prime office assets.
The office consists of 28,339sq m of space, and is integrated into Westfield Sydney.
Aware Super has been circling the asset for a number of months. In a media release, the super fund said the acquisition “further strengthens Aware Real Estate’s directly owned office portfolio”.
Aware said the deal continued its strategy of investing in institutional assets capable of delivering long-term performance.
Aware Real Estate head of investments and capital transactions Pete Carstairs said Link’s experience with the asset complemented its own asset management expertise.
“Together, we look forward to stewarding the future of this asset through a collaborative partnership focused on long-term performance, tenant outcomes and value creation,” Carstairs said.
Link’executive director and chief investment officer John Saunders said the transaction “brings together complementary strengths and long-term capital, positioning the asset to deliver enhanced performance on behalf of our investors”.
Aware Super’s property portfolio manages more than $16 billion of assets on behalf of the fund’s 1.3 million members, and includes such holdings as 145 Ann St in the Brisbane CBD, which it acquired in 2024, and 207 Pacific Highway at St Leonards, NSW.
