Keppel REIT sells property in Sydney for $160m

The property has 147,000sqft of net lettable area.

The real estate investment trust arm of Keppel will be left with eight premium grade assets with 11 office towers in Singapore and Australia as it divests 100% interest in 77 King Street Office Tower in Sydney, Australia.

According to a press release by Keppel REIT, its remaining assets in Singapore are Bugis Junction Towers, Marina Bay Financial Centre, One Raffles Quay and Ocean Financial Centre.

“Keppel REIT's assets in Australia are 8 Chifley Square in Sydney (50% interest), 8 Exhibition Street in Melbourne (50% interest in the office building and two retail units, as well as a 100% interest in another three retail units), 275 George Street in Brisbane (50% interest), as well as the office tower and its annexe on the Old Treasury Building site in Perth (50% interest),” the press release said.

Keppel REIT added that the divestment is not expected to have any significant impact on the REIT’s DPU for the current financial year.