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Suntec Reit to acquire office building in Sydney for A$297m

Deal expected to be DPU accretive, with an initial net property income yield of 5.5% per annum upon completion

Artist's impression of 21 Harris Street in Pyrmont, Sydney. The freehold property, which is currently under development, has a net lettable area of about 203,400 sq ft, comprising 181,900 sq ft of office space and 21,500 sq ft of retail space.


SUNTEC Real Estate Investment Trust (Suntec Reit) has entered into agreements to acquire a freehold Grade A office building in Sydney, Australia, for A$297 million (S$282 million), said the manager of the trust, ARA Trust Management (Suntec), on Monday.

ARA Trust...