The move would help the company to trim debt and free up proceeds to pour into its substantial development pipeline, which includes a revamp of the Pyrmont site.Įxisting parking arrangements would be retained, with the focus for any new operator likely to be on improving the car park’s performance during the relatively quiet weekday periods. While the process is just getting under way with registrations of interest, the company is likely to make a decision about how to proceed with a transaction by mid-year. Star is seeking a group that specialises in owning and operating car parks to oversee the 2800-bay car park that sits beneath its landmark property in Pyrmont. Gaming heavyweight Star Entertainment has tapped Macquarie Capital to sell the car park concession at its Sydney casino in a move that could reap more than $200 million.
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