Singapore asset manager buys Monash University campus
The GPT Group is selling another Docklands asset from its Wholesale Office Fund.
The Monash University Docklands campus, built in 2007 for AXA which four years later merged with AMP – both which had signage rights – is trading to Singapore based Trust Capital Advisors, for c$383 million.
On 7700 square metres at 750 Collins Street, between Batmans Hill Drive and Village St, to which it is also highly exposed, it contains 41,400 sqm over 10 floors.
GPT renovated it before Monash moved in four years ago.
With 5660 sqm floorplates, it includes several auditoriums, one able to hold 400.
There are also 422 car parks leased to Wilson.
The deal comes eight years since TCA banked $727.55m from five east coast offices including in Melbourne’s CBD, 575 Bourke St and 469 La Trobe.
It also follows Singapore groups this year buying university-backed offices in Sydney’s CBD, to Cambridge RE Partners, and North Sydney, to Keppel’s Education Asset Fund.
Meanwhile, also this year, SC Capital sold a student accommodation investment in Sydney’s Kensington to the University of New South Wales.
GPT sells Docklands duo
Any deal for 750 Collins St would come eight months since we reported GPT, on behalf of the Wholesale Office Fund, sold Docklands’ ex-Media House, for c$120m.
At 655 Collins St, Docklands, at the CBD border, opposite Southern Cross Station, that buyer was Najee Holdings founder Naji Imam.
In April, GPT offloaded two suburban offices at Sydney Olympic Park to Freecity for build to rent projects.
Cushman & Wakefield’s Nick Rathgeber and Leigh Melbourne marketed 750 Collins St.
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