Sale of Axxess Corporate Park Mount Waverley Victoria

15 June 2023

Sale of Axxess Corporate Park, Mount Waverley Victoria

Dexus announces that it has exchanged contracts to sell Axxess Corporate Park, a business park in Mount Waverley, Victoria.

The sale will realise proceeds of $306.2 million¹, reflecting a 7.4% premium to the 31 December 2022 independent valuation.

The sale is subject to FIRB approval and is otherwise unconditional. Settlement is expected in early July 2023.

Together with the sale of 44 Market Street, Sydney announced on 9 June 2023, Dexus has secured combined sale proceeds of approximately $700 million¹, representing an approximate average 8% discount to the 31 December 2022 independent valuation.

This transaction brings total divestments announced during FY23 to date to approximately $1.5 billion.

Authorised by Brett Cameron, General Counsel and Company Secretary of Dexus Funds Management Limited

^Footnote:
1. Reflects net sale price and excludes transaction costs.