Aspial

Aspial: Agreed to acquire 54-64 A’Beckett Street, Melbourne from City Lights Properties, for a consideration of A$26.8m. The Property is freehold with an existing low-rise building with total land area of ~1,295 sqm. The property has an active planning permit for a new 49-storey tower comprising residential apartments, serviced residence and retail shops. Situated in the Melbourne CBD, RMIT is just 100m away from the property, while the Melbourne Central Railway Station is just a stone’s throw away. This is Aspial’s third property in Melbourne, totaling A$110.6m, in addition to an A$18.9m mega-integrated development project in Cairns