>

>

Straits Trading buys two Australian office buildings for A$150 mil

By Atiqah Mokhtar

/ EdgeProp Singapore |

February 14, 2022 12:55 PM SGT

On Feb 11, Straits Trading Co. announced it has entered into sale and purchase agreements for two Grade-A office buildings located in Melbourne.

SINGAPORE (EDGEPROP) - Straits Real Estate (SRE), the wholly-owned subsidiary of Singapore-listed Straits Trading Co, is buying two freehold office buildings in Australia for an approximate consideration of A$150 million ($143.9 million).

On Feb 11, the group announced it has entered into sale and purchase agreements for the assets, both located in Melbourne. The first asset, located at 1010 La Trobe Street, is a nine-storey freehold Grade-A office building with a net lettable area (NLA) of 15,354 sq m (165,269 sq ft). It is currently 100% occupied.

The second asset, located at 192 Harbour Esplanade, is a five-storey freehold Grade-A office building with a NLA of 5,779 sq m. It is located adjacent to 1010 La Trobe and is majority-occupied by National Broadband Network Co, Australia’s wholesale broadband network provider.

The acquisition follows Strait’s Trading Co’s GBP60 million ($81.3 million) investment in warehouse retail parks in the UK last October. According to the company, both transactions are in line with SRE’s strategic focus on creating realisable value with high-quality income-generating properties.

“This strategy, together with its continuing expansion into the logistics sector, is expected to fuel the growth of SRE’s assets under management from approximately $2.3 billion as of December 2021 to $3.5 billion over the next few years,” the Feb 11 statement reads.

Tags:

Straits Real Estate Straits Trading Company Melbourne office building Australia

Follow Us

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

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Government ramps up private housing supply; offers three EC sites on Confirmed List

3

Novo Place hits 88.1% as 137 units snapped up in second balloting

4

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

5

What’s next for Bayshore

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