Investment Portfolio
Suntec City
One Raffles Quay
MBFC Properties
9 Penang Road
177 Pacific Highway
Southgate Complex
Olderfleet, 477 Collins Street
55 Currie Street
As at 31 December 2018
Location 177 Pacific Highway, North Sydney, NSW 2060, Australia
Title Freehold
Total Net Lettable Area 430,915 sq ft
Number of tenants (actual) 10
Car Park Lots 112
Purchase Price S$457.5 million1
Market Valuation S$$561.5 million2
(31 December 2017:
S$605.6 million2)
Gross Revenue S$40.2 million 3
(2017: S$40.9 million)4
Net Income Contribution S$34.7 million 3
(2017: S$35.4 million)4
Committed Occupancy 100%
(31 December 2017: 100%)
  1. Based on total actual progress payment made, at an average exchange rate of A$1.00 = S$1.107.
  2. The change in valuation was due to fluctuations in the exchange rates used, which were based on A$1.00 = S$0.9599 and A$1.00 = S$1.0441 as at 31 December 2018 and 31 December 2017 respectively.
  3. Based on exchange rate of A$1.00 = S$1.0017 for FY2018.
  4. Based on exchange rate of A$1.00 = S$1.0201 for FY2017.
177 Pacific Highway, the 31-storey A-grade commercial tower in North Sydney received its practical completion on 1 August 2016. The landmark building is designed by award-winning architecture firm Bates Smart and boasts state-of-the-art design and harbor views.The building has a 5 Star Green Star – Office Design v3 Certified Rating, 5.5 Star NABERS Energy Rating and 4 Star NABERS Water Rating.

177 Pacific Highway premier tenant base include CBRE, CIMIC Group Limited, Cisco Systems, Jacobs Engineering Group Inc, Objective Corporation, Pepper Group Limited and Vodafone Group Plc.

177 Pacific Highway is located in one of the most prominent sites in North Sydney Central Business District at the junction of Pacific Highway and Berry Street. The property’s prime location enables it to enjoy direct access to a number of major surrounding roadways and is well served by public transport.

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