Starhill Reit in A$288m purchase

Singapore

STARHILL Global Reit announced on Monday it is looking to buy a freehold property at 14-38 Rundle Mall, Adelaide, South Australia (Myer Centre Adelaide) for A$288 million (S$300 million) in cash. It entered into the conditional sale-and-purchase agreement on Monday.

Myer Centre Adelaide, located in the city's retail CBD core, comprises a retail centre with almost 620,000 square feet of retail space, three office buildings occupying 98,000 square feet and four basement levels providing 467 carpark lots.