29 November 2012 — Joint venture partners Leighton Properties and Grosvenor have sold Parramatta’s Eclipse Tower to Retail Employees Superannuation Trust for $167.5million.

Leighton Properties managing director Mark Gray, said at over $6500 per square metre, the strong sale cemented Parramatta as a location suitable for institutional investment for prime grade commercial property with investors willing to pay for sustainable, quality office space.

Mr Gray said tenant demand for the 19-storey Eclipse Tower demonstrated an ongoing need for quality, sustainable, A-grade office space in the suburban office markets and highlighted that companies are strategically choosing to base their operations in both the Sydney and Parramatta CBD.

Tenants include Deloitte, QBE, Landcom and Servcorp with 80 per cent of the building leased, since completion in August 2012, with the final three vacant floors under offer.

Architects were Fitzpatrick and Partners with builder John Holland.

Eclipse Tower is registered for a Green Star Office Design v2 rating, has achieved a 5 Star Green Star rating (Design) and will be pursuing a 5 Star Green Star rating (as built) and a 5 Star NABERS energy rating.