Malaysia pension fund sells Sydney office
Kumpulan Wang Persaraan (KWAP), Malaysia’s second-largest pension fund, has sold an office in Sydney’s central business district.
An official announcement has not been released; however, the sales price is estimated to be A$340 million ($255 million). According to media outlets, the new owner is based in Hong Kong.
The Australian Securities Exchange headquarters at 20 Bridge St., Sydney, totals 218,819 square feet. The Australian Securities Exchange occupies more than 45 percent of the building, with a lease expiry of more than 11 years.
Australia remains appealing as a destination for international capital flows against a global backdrop of financial and political uncertainty, according to Colliers.
To date, the highest volumes of investment in the Asia Pacific region have originated from China and Singapore; however, Colliers anticipate the next wave will see the re-entrance of Japanese groups into the market after a 20-year hiatus, coupled with ne