Keppel Reit begins construction of office tower in Melbourne
KEPPEL Reit announced on Friday that it has commenced construction of its newly acquired premium office tower in Melbourne, Australia.
The Grade A office tower to be developed at 311 Spencer Street will be the headquarters for the Victoria Police from 2020 after the building's completion in the fourth quarter of 2019.
Standing at 42 storeys, it is located between Melbourne's central business district and the new Docklands precinct. Sited on freehold land, the development is within walking distance to the Southern Cross Station, the city's major railway and transportation hub. The office tower has an estimated net lettable area of 717,000 sqf and comprises seven levels above ground and four levels of basement carpark space.
This will be Keppel Reit's second asset in Melbourne, after 8 Exhibition Street where it has a 50 per cent interest in the office building and two retail units, as well as a 100 per cent interest in the three adjoining retail units.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade