Property Development

Bendigo and Adelaide Bank HQ to Fetch $80m

Written by The ReReport
As seen in the Source link, written by theurbandeveloper.com on 2019-02-13 15:27:29

Singapore-based Wharf Street Investments has listed the Melbourne headquarters of the Bendigo and Adelaide Bank, with price expectations exceeding $80 million.

The fully-leased tower, located at 120 Harbour Esplanade in Melbourne’s Docklands, is leased to the bank until mid-2025 and is one of a number of assets owned by Singaporean investor Philip Lim in Australia.

These include Melbourne assets such as 380 Latrobe Street, which was purchased for $157 million, 222 Bourke Street, and 600 St Kilda Road, purchased for $81.5 million from Arena Office Fund.

The eight-level building, which was constructed in 2005, will now be put on the block in a move to recycle capital after Lim purchased the office tower for $33 million in early-2009.