UEM Sunrise wraps up Melbourne 21-storey office tower purchase

The decision to acquire the 412 St Kilda Road site is part of our strategy to ensure a steady flow of overseas projects. The property is in a different location from the other two core CBD sites we currently own. Being on the city fringe, it promises a different lifestyle, and thus, will appeal to different market segments,

KUALA LUMPUR: Property developer UEM Sunrise Bhd has completed the acquisition of a 21-storey office tower in Melbourne, Australia, for A$58mil (RM161mil).

In a statement issued yesterday, UEM said the 172,223-sq ft building located on the strategic site of St Kilda Road was one of the main routes into Melbourne’s central business district (CBD).