Dexus sues AMP after losing stake in $1.8b Macquarie Centre

Campbell Kwan and Lucas Baird

Jul 3, 2025 – 10.50am

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Dexus has sued wealth management giant AMP to recover alleged losses over the sale of a stake in Sydney’s $1.8 billion-plus Macquarie Shopping Centre, which it was forced to hand over to its superannuation fund co-investors.

Dexus took over the investment in Macquarie from AMP two years ago, but in a major setback it was ordered by the NSW Supreme Court to sell its $830 million half-stake to its co-investors UniSuper and Cbus Property this year, after a contractual breach.

Campbell Kwan covers commercial and residential real estate for The Australian Financial Review, based in the Sydney newsroom. He was previously the breaking news reporter.

Lucas Baird is a journalist based in The Australian Financial Review's Sydney office.