This article is from the Australian Property Journal archive
GERMANY’S Deka Immobilien GmbH has finalised on the purchase of the South Wharf office tower in Melbourne for EUR 85 million (approx $A118 million).
The property was sold by Austexx and the Plenary Group and is the office tower component within the Melbourne Convention and Exhibition Precinct, which includes the new Hilton Hotel and Direct Factory Outlet.
Following the acquisition of properties in Sydney, Melbourne and Perth, South Wharf Tower will be Deka Immobilien’s fourth investment in Australia since 2008 and is to be included in the portfolio of the Deka-ImmobilienGlobal open-ended mutual property fund.
South Wharf has a lettable floor space totalling 20,800 sqm over 10 levels and is tenanted by four major tenants including International food group Kraft Foods Limited.
Australian Property Journal
