Frasers Property Australia sells Melbourne office building for S$46.7 million

SINGAPORE - Frasers Property Australia, a division of mainboard-listed Frasers Centrepoint, has sold a fully-occupied office building in Melbourne for A$45.5 million (S$46.7 million) to Blackrock Asset Management.

The strong price achieved follows a competitive expression of interest campaign, said Frasers Property on Tuesday (April 5).

The company had owned and managed the 8,000 square metre building in Church Street in Richmond since 2000. It is fully leased with a weighted average lease expiry of 3.1 years.