Keppel REIT Buys Half of Sydney Office

News about Keppel REIT

Keppel REIT is purchasing a 50% stake in Sydney office property:

The manager of Keppel REIT has entered into a contract of sale to acquire an effective 50% interest in 255 George Street for A$363.8 million ($321.0 million)

The 29-storey property is a freehold Grade A office building located in Sydney’s centre business district (CBD). It has a net lettable area (NLA) of 38,996.8 sqm (419,758.06 sq ft) comprising 38,805.0 sqm of office space and 191.8 sqm of retail space, as well as 188 car park lots.

Keppel REIT
Price0.855 SGD
NAV1.290 SGD
Yield (4 quarters)6.78%
Gearing38.9%