AIMS APAC REIT in exclusive talks to acquire Sydney headquarters of Woolworths

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AIMS APAC REIT is in exclusive due diligence to acquire the Woolworths headquarters located in Bella Vista in northwest Sydney, Australia, the REIT said in a filing to SGX Thursday to clarify media reports.

The REIT’s statement followed an Australian Financial Review report Wednesday saying the REIT was prepared to pay more than A$450 million to acquire the property from Inmark Asset Management, which itself acquired the property for A$336 million five years ago.

“No decision has been made, and no binding agreement has been entered into, in respect of the acquisition of the property. There is also no certainty that AA REIT would acquire the property,” the REIT said.

The Australian Financial Review report said the property had attracted both local and international bidders — including Charter Hall, Growthpoint Properties, LaSalle Investment Management and Centuria Capital — despite the property being marketed during a Covid-19 lockdown in Sydney.

The site has nine hectares of land and 45,000 square meters of net lettable area over three office buildings and 3,000 car spaces, the report said.