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CapitaLand Investment acquires freehold office tower in Melbourne's CBD

Felicia Tan
Felicia Tan6/7/2022 08:07 AM GMT+08  • 3 min read
CapitaLand Investment acquires freehold office tower in Melbourne's CBD
120 Spencer Street in Melbourne, Australia. Photo: CLI
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CapitaLand Investment (CLI) has acquired a freehold office tower in the Western Core of Melbourne’s central business district (CBD) on June 7.

The tower is a 22-storey building at 120 Spencer Street, located opposite the Southern Cross Station. The station is a major hub that connects the city to the wider Melbourne region. The tower has a total net lettable area (NLA) of 32,000 sqm.

The building has a strong committed office occupancy of 97.5% and a long weighted average lease expiry (WALE) of 6.7 years. Its tenants include WeWork and prominent local educational institutions such as Central Queensland University and Redhill Education.

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