Singapore-listed Aspial Corporation has signed an agreement with City Light Properties to purchase a freehold property in Melbourne’s central business district for A$26.8 million, via its subsidiary WCL-A Beckett (Vic).

Located at 54-64 A’Beckett Street, media reports said the site has a land area of around 1,295 sqm (approx. 14,000 sq ft) and comes with an existing low-rise building. It also has an active planning permit for a 49-storey tower comprising residential apartments, serviced residences and retail shops.  

The property is within proximity to Melbourne Central Railway Station, the Royal Melbourne Institute of Technology, Victoria Market, Central Shopping Mall and Flagstaff Garden.

Notably, this acquisition marks the group’s third major property investment in Melbourne this year.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg 

 

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