Early Light secures iconic Exchange Centre, Sydney

23 June 2017

Early Light International (Holdings) Ltd Group has secured 100 percent interest in the iconic Australian Exchange Centre, in the heart of Sydney’s financial core for $335 million on a fully leased 4.5 percent yield from an offshore institutional investor, managed by Investa.

The transaction was negotiated by Simon Fenn, Ian Hetherington and Ben Azar of Savills within three weeks of hitting the market as the first institutional grade Sydney CBD core offering since June 2013.

This is the first Australian property purchased by the group known as Hong Kong’s leading toy manufacturer, which also specialises in property management, medical and health services, hotel service, watch and jewellery retail and international pre-schools.

Located at 20 Bridge Street, the A-grade 20,329sq m commercial building comprises 13 upper levels of office accommodation, ‘Exchange Square’ retail on the ground level and an Auditorium at basement level.

The building is 96 percent leased with a long Weighted Average Lease Expiry (WALE) of over seven years. The ASX Group occupies more than 45 percent of the building, with a lease expiry of more than 11 years.

According to Ben Azar, Director of Capital Transactions and Cross Border Investments at Savills, “This asset generated immediate interest from our high net worth network of offshore investors from China, Hong Kong, Singapore and Japan, due to its long WALE, strong tenant covenant and 100 percent freehold interest”.

Dr Francis Choi Chee-ming, is the Founder and Chairman of the Early Light International (Holdings) Ltd Group, which has a solid presence in Hong Kong and Mainland China, servicing international and local needs.

The Exchange Centre offers significant street frontage along Bridge Street and is minutes from Circular Quay and Wynyard Train Station.

Learn more about Savills Capital Transactions.

 
 

Key Contacts

Simon Fenn

Simon Fenn

Managing Director - NSW

Savills Sydney

+61 (0) 2 8215 8888

 

Ben Azar

Ben Azar

Director - Capital Transactions
National Head - Cross Border Investments

Savills Sydney

+61 (0) 2 8215 8824