Link Asset Management, the manager of Link REIT, has agreed to acquire 50-percent interests in the three leading retail assets in Australia — Queen Victoria Building (QVB), The Galeries and The Strand Arcade — for a total of A$538.2 million ($400 million).
“The rare portfolio, sitting in the heart of Sydney CBD, was offered to the market for the first time,” said George Hongchoy, CEO of Link REIT. “Given the high occupancy rate filled with leading Australian and international brands, the portfolio is well positioned to capture the retail rebound with the improving consumption sentiment in the country. Coupled with the strategic partnership with a leading retail-asset manager in Australia, we believe both parties will jointly enhance the portfolio to ensure these landmark assets will deliver the best retail experience to all shoppers and unlock their long-term growth potential.”
Located in the CBD of Sydney, one of Aust
