Tuesday, April 5, 2016

Frasers Property Australia sells office building in Melbourne for A$45.5 mil

Frasers Property Australia has sold a fully occupied office building in Church Street, Richmond, Melbourne for A$45.5 million ($47.1 million) to Blackrock Asset Management.

The strong price achieved follows a competitive Expression of Interest campaign.

The 8,000 sqm property, known as Building 10 at 658 Church Street in Richmond, is fully leased with a weighted average lease expiry of 3.1 years.

Frasers Property Australia is the Australian division of Frasers Centrepont Limited.

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