Keppel REIT Buys Sydney Office Building

News about Keppel REIT

Keppel REIT is announcing the purchase of Blue & William, a grade A office in North Sydney. The freehold building is being transacted at a price of A$327.7 million, or about S$322.2 million.

Ms Shirley Ng, Deputy CEO and Head of Investment of the Manager, said, "In line with our active portfolio optimisation strategy, this DPU-accretive investment brings an initial net property income yield of 4.5%, which will enhance Keppel REIT’s overall portfolio returns. At the same time, regular coupon will be received throughout the development phase, providing robust risk-adjusted returns."

Keppel REIT
Price0.870 SGD
NAV1.290 SGD
Yield (4 quarters)6.67%