AIMS AMP buys stake in Sydney building

AIMS AMP Capital Industrial Reit has signed a conditional agreement with a Stockland managed fund, Stockland Direct Office Trust No 2, to acquire a 49 per cent indirect stake in Optus Centre for A$184.4 million (S$211.4 million).

This is the first Australian investment for the trust whose portfolio of properties has been Singapore-centric so far.

Optus Centre is an A-Grade business park located at Macquarie Park in Sydney's north. It is fully leased to Optus Administration - a unit of SingTel Optus, the second largest telecommunications company in Australia - for a weighted average lease term of 8.6 years with fixed annual escalation of 3 per cent.