CIMB-TCA acquires 3 Collins Square, Melbourne for roughly AU$279m

A-grade asset bought for institutional investors.

CIMB-TrustCapital Advisors (CIMB-TCA) is pleased to announce, on behalf of its institutional investors, the acquisition of 3 Collins Square, 747 Collins Street, Melbourne, from the Walker Corporation for approximately AUD279 million (RM845 million).

This A-grade asset was completed in April 2012 and is on a long-term lease to the Australian Federal Government with the Australian Tax Office (ATO) occupying the building on a 15-year lease. It consists of 16 storeys of office accommodation and is located in Docklands, Melbourne. This highly ecological sustainable building has been awarded a 5.5-star NABERS Energy rating and has achieved a 5-star Green Star as-built rating.

This transaction is CIMB-TCA’s fifth property acquisition in Australia since it entered the market in early 2011. It had previously acquired 50 Marcus Clarke Street in Canberra, 150 Charlotte Street in Brisbane, 469 Latrobe Street and 850 Collins Street both in Melbourne.

Raja Noorma Othman, Chairman of CIMB-TrustCapital Advisors said, “We are happy to have bought a new and centrally-located asset within one of Melbourne’s largest commercial mixed-use developments, Collins Square. With this acquisition, we continue to demonstrate a strong track record in identifying high-quality assets, growing our Australian portfolio to circa AUD800 million (RM2.4 billion), and delivering strong returns to our investors.”

CIMB-TCA is a joint venture between CIMB Real Estate Sdn Bhd and Singapore-based TrustCapital Advisors Pte Ltd.