SINGAPORE (Dec 8): UOL Group is acquiring an eight-storey Sydney office building as part of the group’s plan to diversify its presence in Australia and to strengthen recurring income streams.

The eight-storey office building with four-storey basement parking sits on a freehold site has an area of 2,815 sqm and a net lettable area of 11,259 sqm. The property is 100% tenanted with the lease expiring in 2028.

On Thursday, UOL indirect wholly-owned subsidiary, Success Venture (CS), entered into a sale and purchase agreement with Proprium Capital Partners (Australia), the trustee for the Linford Hold Trust, to acquire all interest in the property at 72 Christie Street, St Leonards for A$154.5 million ($152.7 million).

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook