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Thursday, 27 June 2013

Keppel Reit acquires 50% stake in Aussie office building

BT 20130627 MTKREIT27 635098
8 Exhibition Street: 100% leased to tenants in the financial, aviation, tax and transaction services sectors - PHOTO: KEPPEL CORPORATION LIMITED

KEPPEL Reit has acquired a 50 per cent stake in a freehold office building, 8 Exhibition Street in Australia, for A$160.2 million (S$192.4 million).

Located in the prime part of the Melbourne central business district, the 35-storey freehold commercial building has a total net lettable area of about 480,309 sq ft with 3,304 sq ft of ancillary retail space on the ground floor.

The building has a 4.5 star NABERS energy rating.

"This is a rare opportunity to acquire a freehold premium grade office building in the most prime part of Melbourne's CBD and will add to Keppel Reit's sterling portfolio of commercial assets in Singapore and in the key cities of Australia," said Ng Hsueh Ling, chief executive officer of Keppel Reit Management, the manager of the real estate investment trust.

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