PETALING JAYA: EWI Capital Bhd has announced that the TrustCapital Australian Office Fund No. 3 has completed the acquisition of its first commercial asset, 750 Collins Street, Melbourne, VIC 3008, for a net purchase price A$381mil (RM1.09bil).
EWI Capital, formerly known as Eco World International Bhd
, said this follows its earlier announcement dated Oct 30, 2025 in relation to the subscription by EWI Investment Holdings Ltd (EWIIH) as anchor investor in the fund, with a committed capital of A$100mil.
“Strategically located within one of Melbourne’s prime commercial precincts, 750 Collins Street is surrounded by leading corporations and established business infrastructure.
“The property has a net lettable area of approximately 41,000 sq metres and is currently tenanted by Monash University, one of Australia’s largest universities, under a long-term 15-year lease expiring in 2035,” said EWI Capital in a Bursa Malaysia filing.
It said Monash University holds an Aa1 credit rating from Moody’s, underscoring the strong financial standing and credibility of the tenant.
“In 2022, Monash University consolidated its central business district operations, previously located at 222 Bourke Street, 321 Exhibition Street and 271 Collins Street, into a repurposed and fully fitted campus at 750 Collins Street.
“The property now serves as the central hub for Monash College.”
Commenting on the acquisition, EWI Capital president and chief executive officer Datuk Teow Leong Seng said tThe completion of 750 Collins Street represents a significant first step for the fund and reinforces the group’s strategic direction towards quality, income-producing assets in mature markets.
“The property’s prime Melbourne location, long-term lease to Monash University and exposure to the education sector provide a strong foundation for stable recurring income and long-term value creation.
“As such, the acquisition will contribute positively to the Fund’s performance and support EWI Capital’s objective, as the anchor investor, of delivering sustainable returns to our shareholders.”
EWI Capital noted that while Australia’s office market recorded an increase in average vacancy rates from 0.5% in 2020 to 14.8% in the first half of 2025 due to increased supply, it said prime office rental growth in Melbourne has seen a marked uplift, driven mainly by stronger rents in core precincts.
“Looking ahead, the national office development pipeline is expected to moderate over the next five years as developers continue to face high construction costs, elevated funding costs and higher capitalisation rates, making new developments increasingly difficult to justify economically.
“Together with the expected continuation of positive absorption, these conditions are anticipated to support a decline in national average vacancy rates and stronger rental growth throughout 2026.”
EWI Capital said Melbourne’s continued population growth and large international student base are also expected to support long-term demand for education-related facilities.
“Against this backdrop, the acquisition of 750 Collins Street is anticipated to contribute positively to the Fund’s performance, thereby benefiting EWIIH as the fund’s anchor investor.
EWI Capital has 18 existing and remaining projects in the United Kingdom and Australia with a total gross development value of £4.6bil and A$0.7bil, respectively.
