Telus’ $750-million headquarters – completed in 2015 – has sold just three years later to an undisclosed buyer for an unreleased amount.
Telus Garden comprises an office tower and residential building at 510 West Georgia Street, constructed in a joint venture between Telus and developer Westbank Corp. The sale was revealed in Telus’ latest quarterly earnings report.
"In August, the Telus Garden real estate joint venture accepted an offer to purchase the income producing property and the related net assets; the sale is expected to be completed subsequent to August 3, 2018," according to a media release.
Though the sale price is undisclosed, Telus said it stands to gain $170 million from its share of proceeds from the sale.
Tanya is a recent graduate of Langara College's journalism program and spent a summer freelancing for The Burnaby NOW and The Record, following a reporting internship with the publications. She joins Western Investor as an editorial assistant. Very much a millennial, she sees the irony in writing about real estate she will likely never be able to afford.
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