Frasers Commercial Trust snaps up Melbourne office building for $231.6m
This is its maiden foray into Melbourne.
Frasers Commercial Trust today reported that it will buy an office building located in 357 Collins Street in Melbourne for a total consideration of $231.6m (AUD 222.5m).
This marks its maiden foray into Melbourne's CBD and is expected to increase FCOT’s portfolio size by 14.2% from $1.8 billion to $2 billion as at 31 March 2015.
FCOT also revealed that it has entered into a conditional agreement to facilitate an entity of Frasers Centrepoint Limited to carry out the development of the a 16-storey hotel in China Square Central.