Ascot Capital Limited sells West Perth office for $33 million to first time Singaporean investor

Golder Associates leases building naming rights.

A Singaporean investor has made their first foray into the Perth commercial property market, paying $33 million for an office opposite Kings Park and Dumas House.

The building, 1 Havelock Street, West Perth, was offloaded by WA-based Ascot Capital Limited, an investment house directed by David Van Der Walt, Greg King and Peter Agostino.

The four-level A-grade office is 90 per cent occupied to tenants including Frasers Property Australia and Golder Associates – the latter which leases naming rights.

With 5199 square metres of area, including a top floor apartment, the building includes 201 parking bays in a two level basement car park. It sits on a 3367 sqm plot with a tennis court, less than a kilometre from St Georges Terrace.

The asset, returning annual rent of more than $2.6 million, was marketed by Knight Frank’s Andrew Woodley-Page, Todd Schaffer with CBRE’s Aaron Desange, Kate Foley and Anthony Del Borrello.

The deal comes almost a year since it was listed for sale. At that time – November 2017 – the office was fully leased and returning $2.8 million per year in rent.

Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au

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