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Mapletree Inks $59 Million West Perth Deal

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ConocoPhillips' West Perth headquarters have been purchased by a Singapore real estate firm Mapletree for $59 million.

According to the AFR, the property at 53 Ord Street was acquired from Primewest on a sub-8 per cent yield.

The A-Grade six-level office tower features 6,864 square metres of commercial space, a basement car park and deck car park.

The property is leased to ConocoPhillips until 2022 and is located on the southern side of Orde Street within the office precinct of West Perth.  It's only two kilometres from the Perth CBD.

Primewest acquired the building in 2009 for $41.5 million from the Commonwealth Property Office Fund.

The sale was negotiated by CBRE'S Peter Agostino and Andrew Woodley-Page.

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Article originally posted at: https://theurbandeveloper.com/articles/mapletree-acquires-53-ord-street-west-perth