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Keppel REIT acquires freehold Grade A office currently under development in North Sydney for $322.2 mil

Felicia Tan
Felicia Tan11/30/2021 08:04 AM GMT+08  • 3 min read
Keppel REIT acquires freehold Grade A office currently under development in North Sydney for $322.2 mil
Keppel Bay Tower, one of the properties that's part of Keppel REIT's portfolio / Keppel
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The manager of Keppel REIT says it has entered into an agreement to acquire 100% interest in Blue & William, a freehold Grade A office currently under development in North Sydney.

The total consideration for the development is A$327.7 million ($322.2 million). The amount includes the consideration of A$150 million for the acquisition of the land.

On Nov 30, the REIT’s trustee, RBC Investor Services Trust Singapore, entered into a contract of sale with Pyrmont Union Street Landowner Pty Ltd, William Street Home Units Pty Limited, 4 Blue Street Home Units Pty Limited and Conway Home Units Pty Limited (the vendors) for the acquisition of the land.

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