Macquarie Group is a step closer to selling a half share in Sydney's No 1 Martin Place office tower with investment giants LaSalle Investment Management and Singapore's sovereign wealth fund, the Government Investment Corporation, running a ruler over the building, industry sources say.

The two big investors are understood to be am*ong three parties looking at the $200m stake -- one of which was expected to submit an offer last night.

LaSalle Asia Pacific chief investment officer Ian Mackie declined to comment yesterday, while GIC could not be reached.

Macquarie last month renewed its push to sell the share, owned by unlisted Macquarie Martin Place Trust, ahead of an August debt expiry.

The Australian