Frasers Property cashes out its half share of Melbourne office for A$326.2m

Singapore

FRASERS Property's Australian division is selling its 50 per cent share of Melbourne prime office tower 2 Southbank Boulevard for A$326.2 million (S$312.7 million), the developer said on Wednesday.

Frasers Property Australia has exchanged contracts with GPT Wholesale Office Fund (GWOF) for the deal, with settlement due in late March. The gross sale price represents an initial yield of 4.8 per cent.