The property enjoys a prime location along George Street, ensuring high visibility and ease of access via various transportation modes
The Edge Singapore reports the agreement, made on March 28, involves A$363.8 million and was signed with The Trust Company Limited and Mirvac Funds Management Australia Limited.
The property is a 29-storey Grade A office building in Sydney’s CBD. It covers a total area of 38,996.8 square metres, with most of it being office space, a bit of retail space, and room for 188 cars. As of December 31, 2023, the property boasted a solid weighted average lease expiry of 6.8 years and an occupancy rate of 93.0%. Notable tenants include prestigious entities such as the Australian Taxation Office and Bank of Queensland.Temasek-backed hospital Manipal Health looking to acquire smaller India hospital chain to become India's leading healthcare provider
Furthermore, it’s anticipated to boost Keppel REIT’s distribution per unit by 1.4%, based on pro forma data from December 31, 2023. Both buyer and seller agreed upon the price, considering the property’s independent valuation.
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