Soilbuild REIT to enter Australia with acquisition of 2 properties for total $116.3 mil

SINGAPORE (Sept 9): Soilbuild Business Space REIT is making its entry Down Under with the proposed acquisition of two properties in Australia for a total of A$116.3 million ($116.3 million).

First, Soilbuild REIT is acquiring a leasehold commercial office building known as Australia Place at 14 Mort Street in Canberra City for A$55.0 million.

The building, which is currently fully occupied by the Commonwealth Government of Australia, has a total lettable floor area of 9,383.5 sqm. The lease expires in March 2025 with 5+5 year options.

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