Ashurst advises Ascendas REIT on A$288.9 million commercial property acquisition in Sydney

The acquisition of this campus style property which is well-connected via multiple transport options and underpinned by a strong tenant base offers an attractive alternative to Sydney CBD space and strengthens Ascendas REIT's portfolio. 

William Tay, Executive Director and Chief Executive Officer of Ascendas said:

“We are continuing to expand our suburban office portfolio in Australia as affordable satellite hubs such as Macquarie Park remain attractive for companies seeking to decentralise from the central business district. 1-5 Thomas Holt Drive is our fifth suburban office property investment in Australia. With this acquisition, Sydney accounts for 48% of our Australian portfolio.”

Ashurst partner Pauline Tan commented:

"We are delighted to assist Ascendas with the expansion of its footprint in Australia."

The Ashurst team was led by Pauline Tan, assisted by senior associates Alana Eyles and Victoria Lee and lawyers Kate Ferguson, Manny Kanellis and graduate Tiffany Ha.