Ascendas REIT acquires $90.3m office property in Australia

The freehold property’s lettable floor area is 13,131 sqm.

Ascendas REIT (A-REIT) acquired a CBD fringe office property in No. 100 Wickham Street, Fortitude Valley, in Queensland, Brisbane.

According to OCBC Investment Research, the property was considered for $90.3m, including transaction costs.

The net property income (NPI) yield is expected to initially reach 7.6% before the transaction and 7.1% after it.

The deal would be fully financed through debt.

The freehold property is 14 storeys high and has a total lettable floor area of 13,131 sqm. It also has full occupancy, with tents such as Queensland's Department of Health and three data centre operators.

The leases have annual rental escalations of 3-4% with weighted average lease expiry (WALE) of 4.8 years as of 30 June 2017.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia