Ascendas Reit to purchase suburban office building in Sydney for A$167.2m

Singapore

ASCENDAS Reit's manager announced on Friday after trading hours that it is acquiring a suburban office building to be developed at 1 Giffnock Avenue, Macquarie Park, in Sydney, Australia, for A$167.2 million (S$161 million) from Frasers Property Industrial and Winten Property Group.

Frasers Property Industrial and Winten Property Group will design and build the development, which is Ascendas Reit's fifth suburban office asset in Australia.