Straits Trading buys stake in Sydney office building for $123 mil

SINGAPORE (June 6): Straits Real Estate, a subsidiary of Straits Trading Company, is investing roughly A$119 million ($122.7 million) for a stake in a 32-storey office building located at 320 Pitt Street in Sydney, Australia.

320 Pitt Street is a 32-storey office building with a total net lettable area of 29,159 square metres. It is within walking distance from Central Rail Station, and the upcoming George Street light rail system and Pitt Street Metro station. It is also located within close proximity to Chinatown and Pitt Street Mall.

The office building – which was built in 1989 and underwent upgrades to mechanical and hydraulic systems in 2010 and lift cars in 2016 – has a total net lettable area (NLA) of 29,159 sq m.

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