Ascendas REIT is announcing the purchase of 254 Wellington Road in Musgrave near Melbourne, Australia. The freehold suburban office with a 17,507 m² NLA is due to be completed next year.

Nissan has committed to lease 65.2% and the vendor will provide a 3-year rental guarantee for the remaining vacant space.

The transaction of A$112.2 million is expected to be DPU accretive.