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Ascendas-Singbridge Group has recently announced that it has completed the acquisiton of 100 Arthur Street in North Sydney, Australia, marking its first foray into the country’s office sector.
The acquisition brings the group’s asset under management (AUM) in Australia to about S$2 billion).
Jonathan Yap, chief investment officer at Ascendas-Singbridge, said: “With this entry into the commercial office market in Australia, we hope to replicate the success we’ve had with our other asset classes. While we continue to derive value from the best-in-class assets we invest in, we continue to be on the lookout for others that will bolster our growth.”
Located in the east part of North Sydney’s central business district (CBD), Ascendas Innovation Place is a 20-storey Grade-A office tower which features 27,395 sq m of net lettable area. The property is currently fully-leased a mix of multi-national companies.
Jointly owned by Temasek and JTC Corporation (JTC) through a 51:49 partnership, Ascendas-
Singbridge is the asset and investment holding arm of the integrated urban solutions platform formed by the two companies to capitalise on urbanisation trends in the region.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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