This article is from the Australian Property Journal archive
SINGAPOREAN fund manager ZACD has acquired a Cheltenham office building in Melbourne’s south-east for more than $27 million.
The 294 Bay Road property is the head office of ASX-listed iSelect and includes a 4,291 sqm building on a 1.4-hectare site.
It was purchased from a Trilogy Funds-managed investment syndicate on a passing net yield of 8.4%, with four years remaining on iSelect’s lease.
The site is able to accommodate another building of 5,000 sqm in future.
Australian Property Journal
