The Straits Trading Company has entered into a conditional sale and purchase agreement, through its 89.5%-subsidiary Straits Real Estate (SRE), for the acquisition of an office building at 114 William Street, Melbourne, Australia.
The property will be acquired for A$125 million ($125.1 million) from Tackelly No. 6 Trust.
114 William Street is a 25-storey office building at 1,858 square metres. It comprises 22 levels of office space, one level of ground retail space and two basement carparks. It is located in the financial and legal precincts in the Western core of the Melbourne central business district. The building is near Southern Cross, Flagstaff and Flinders Street train stations.
The property is currently leased to high quality tenants in the financial and legal sectors, giving SRE recurring income. SRE intends to reposition the property with some asset enhancement initiatives. The acquisition is the latest in SRE commercial property investments in China, Japan and Southeast Asia to provide the company with steady recurring income, says Desmong Tang, CEO of SRE.
Straits Trading closed 0.36% lower at $2.78.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
The property will be acquired for A$125 million ($125.1 million) from Tackelly No. 6 Trust.
114 William Street is a 25-storey office building at 1,858 square metres. It comprises 22 levels of office space, one level of ground retail space and two basement carparks. It is located in the financial and legal precincts in the Western core of the Melbourne central business district. The building is near Southern Cross, Flagstaff and Flinders Street train stations.
The property is currently leased to high quality tenants in the financial and legal sectors, giving SRE recurring income. SRE intends to reposition the property with some asset enhancement initiatives. The acquisition is the latest in SRE commercial property investments in China, Japan and Southeast Asia to provide the company with steady recurring income, says Desmong Tang, CEO of SRE.
Straits Trading closed 0.36% lower at $2.78.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment