Canada's Oxford Properties has won the rights to private developer Grocon's office tower project within the $2 billion Barangaroo Central, releasing the developer from its binding high-cost finance deal with lender MaxCap.
The contest for the Barangaroo project has been one of the most closely watched in Sydney property circles, not only because of the prime waterfront real estate involved but also because of the financial significance it has for Grocon itself.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter.
Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
