>

>

M&G acquires 49.9% stake in Sydney CBD office building for A$577.3 mil

/ EdgeProp Singapore |

September 7, 2021 6:59 PM SGT

The acquisition was also supported by an A$259.8 million green loan from OCBC Bank in Sydney.

SINGAPORE (EDGEPROP) - Global investment firm M&G Real Estate has acquired a 49.9% stake in EY Centre at 200 George Street in Circular Quay in Sydney, Australia. M&G Real Estate paid A$577.3 million ($576.09 million) for its stake in the prime central business district office tower.

Read more: Kuala Lumpur-Singapore HSR cancellation may dampen growth of properties in Johor

The acquisition was made on behalf of M&G’s core Asia Pacific property portfolio which is managed by Richard van den Berg. The acquisition was also supported by an A$259.8 million green loan from OCBC Bank in Sydney, which was also the sole lender and green advisor for the transaction.

The EY Centre office building was developed by Australian property group Mirvac which owns the rest of the property. The commercial development was completed in 2016 and features sustainable technologies covering energy efficiency and smart building management systems to monitor air quality, power and water usage.

The 37-storey building comprises 35 office floors and two retail levels, and the entire building is fully leased with long-term tenancies that generate a 4.3% rental yield, says M&G.

Tags:

offshore Australia Sydney CBD Acquisition

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

UOL and CapitaLand to acquire Thomson View Condo for $810 mil

2

Is it a Good Deal?: A freehold three-bedroom in D9 sold for $3.27 million, making a $2.03 million profit

3

Chuan Park attracts 5,000 visitors on first day of preview

4

CDL's Norwood Grand achieves 84% sales at an average price of $2,067 psf

5

Sim Lian Group submits record breaking price of $768 psf ppr for EC site at Tampines St 95

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00