Southgate Complex

Property Statistics As at 31 December 2021
Market Valuation
Market Valuation
S$389.3 million1,2,3
NLA
Total Net Lettable Area
0.4 million sq ft1
Office: 0.35 million sq ft
Retail: 0.05 million sq ft
Commited Occupancy
Committed Occupancy
91.7%1
Office
86.0%1
Retail
Net Property Income
JV Income
S$14.2 million4
Location 40 and 60 City Road, 3 Southbank Avenue, Southbank, Melbourne, VIC 3006, Australia
Ownership Interest 50.0%
Title Freehold
Purchase Price S$299.8 million5
Car Park Lots 975

Notes:

  1. Reflects Suntec REIT's interest in the property.
  2. Based on the valuation as at 31 December 2021.
  3. Based on exchange rate of A$1.00 = S$0.9832 as at 31 December 2021.
  4. Based on exchange rate of A$1.00 = S$1.0062.
  5. Based on an exchange rate of A$1.00 = S$1.0615 and A$1.00 = S$1.013 being the exchange rates at the time of acquisitions.

Southgate Complex is a landmark waterfront integrated development comprising two Grade A office towers, the 30-storey “IBM Tower”, the 25-storey “HWT Centre”, a 3-storey retail podium and a car park with 975 lots.

The development is located alongside the Yarra River and is directly opposite Flinder's Street Station.