Leading Wollongong based family office, Quality Green Group (QGG) has made its first property purchase outside of
the Illawarra, acquiring 1 Rivett Road, North Ryde for $38.5 million.
Chris Johnson CEO of MMJ Real Estate (MMJ) handled the sale of the property which includes the national head office
of American owned multinational conglomerate 3M Company (3M), a leader in the fields of industry, worker safety,
healthcare and consumer goods.
The purchase of this predominantly office building adds to QGG’s already substantial office portfolio which includes
Wollongong assets, 280-286 Keira Street, a 5 level 7,031m2 building, 93-99 Burelli Street, a 3 storey building
comprising 5,770m2 and 7-11 Bridge Street, a 4 storey building comprising 4,422m2. All of QGG’s Wollongong assets
maintain a 6-star NABERS Energy rating and are all rated Carbon Neutral.
1 Rivett Road, North Ryde is situated in Riverside Corporate (RCP) located approximately 14 kilometres from the
Sydney CBD. Current occupants within RCP include CSR, Boral, CSRIO, Energy Australia and Honeywell. The
attractiveness of this location has recently been significantly enhanced by the opening of the new North Ryde metro
station, being 300 metres from the property. The new metro line now delivers access to Barangaroo in14 minutes and
only 4 stops.
The property itself, positioned on a 1.2 hectare site, comprises the 3M Building, a six level office 8,079m2 office building
fully leased to 3M and two older style buildings which are predominantly used as laboratories, storage and office space,
whose main tenant is the Australian Export Grains Innovation Centre.
MMJ’s sale of the property was handled by way of an international Expressions of Interest campaign with potential
buyers identified from locations across Australia and from, New Zealand, Singapore and the Netherlands. Johnson
said, “the campaign resulted in nine expressions of interest being received, which was an excellent result for a property
of this size and nature”.
Johnson went onto say, “MMJ which has provided asset management services for the last 8 years will continue to
manage the property on behalf of QGG”.