AMP Capital Wholesale Office Fund (AWOF) has agreed to acquire a further 25 per cent interest in NAB House at 255 George Street, Sydney. This accretive acquisition increases the Fund’s ownership of this A-grade Sydney CBD office tower to 100 per cent.

Developed by AMP Capital, NAB House has been the Sydney headquarters for National Australia Bank since its completion and NAB remains the building’s anchor tenant today.

AMP Capital Wholesale Office Fund Manager Nick McGrath said the acquistion further strengthens the AWOF portfolio.

“We are very pleased to increase our ownership to 100 per cent of this high quality asset located in a superb Sydney CBD location. In recent years the owners invested over $50 million in a transformational upgrade of the asset, setting a new standard of sustainability for existing buildings in the CBD.

“As full owner of the building, we believe we can continue to extract value from this prime asset for investors over the long term,” Mr McGrath said.

NAB House boasts a range of sustainability enhancing measures and new end-of-trip facilities, the building today boasts a 5-star NABERS Energy rating.

The AMP Capital Wholesale Office Fund is an open-ended unlisted trust investing in high-quality office buildings in Australia and New Zealand. The Fund has assets of $2.9 billion as at 31 December 2013.