RJI’s first for year

Press, 13 January 1987, Page 27

RJI’s first for year

PA Wellington Robt Jones Investments, Ltd, has announced the company's first 1987 purchase, the James Hardie Industries headquarters ’ office building in the heart of Sydney, for $22,750,000 (Austsl7.s million).

The building is on the north-east corner of York and Barrack Streets and comprises a 14-storey fully modernised office tower of 8205 square metres of rental space, excluding basement car-parking.

The property has been head leased for 25 years to

James Hardie, one of Australia’s largest public companies.

The building lies 50 metres from Robt Jones Investments other Sydney development, the Landmark Tower on the north east comer of Barrack and George Streets. , “We are particularly pleased with this acquisition which was purchased at a very favourable price of less than $2OO per rental foot, and was purchased by a mixture of cash. and Robt Jones Investments, Ltd, shares,” Mr Jones said in a statement.

Robt Jones Investments is aiming at achieving SNZI

billion of new acquisitions in 1987.

Sydney holdings, including, the Landmark development, now total over $2OO million, and are larger than the $175 million Brisbane portfolio. It also owns a $36 million Canberra building and the company’s Australian property assets will soon exceed the half billion dollar mark, Mr Jones said.

The company’s North American assets exceed $2OO million and its New Zealand assets are about $l3O million, giving a grand total of three quarters of a billion dollars.