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Straits Trading Company acquires two Melbourne properties for $143.9 mil

Felicia Tan
Felicia Tan2/11/2022 05:38 PM GMT+08  • 3 min read
Straits Trading Company acquires two Melbourne properties for $143.9 mil
The consideration will be funded by internal resources and bank borrowings.
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Straits Real Estate, the wholly-owned subsidiary of Straits Trading Company has acquired two freehold office buildings in Australia for an approximate consideration of A$150.0 million ($143.9 million).

On Feb 11, the group announced that CH Holdings Unit Trust, indirect subsidiary of Straits Real Estate, has entered into sale and purchase agreements (SPA) with Digital Harbour Holdings to acquire 1010 La Trobe Street (1010 La Trobe) and 192 Harbour Esplanade (Innovation Building) together with 163 parking bays at Docklands, Victoria.

1010 La Trobe is a nine-storey freehold Grade A office building with a net lettable area (NLA) of 15,354 sqm. It is currently 100% occupied. The Department of Home Affairs and Victoria Rail Track are the office’s key tenants. The property offers uninterrupted views towards nearby Marvel Stadium and the Docklands marina.

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