KLW acquires seven-storey freehold property in Melbourne’s CBD
It’s worth over $27.6m.
Mainboard-listed KLW Holdings yesterday revealed that it is acquiring a seven-storey freehold property in Melbourne’s Central Business District. The deal has a total purchase consideration worth approximately $27.565 million (A$23,600,000).
The seven storey building is currently 100% leased to a blue chip tenant, Victoria University, with its lease expiring on 30 October 2020.
The property has a freehold tenure with a land area of approximately 895 square metres with three street frontages siting in Melbourne’s prime central business district providing average rental yield of approximately 5.8% per annum for the Group.