AIMS APAC REIT To Acquire Woolworths Headquarters In Sydney
October 1, 2021 – AIMS APAC REIT Management Limited announced that AIMS Capital Management Pty Ltd entered into a contract for sale agreement to acquire Woolworths Headquarters, located in New South Wales, Australia for a purchase consideration of A$463.25 million (approximately S$454 million) (US$333.7 million) from Inmark Asset Management Pty Ltd.
The Property, fully leased to Woolworths Group Limited (Woolworths), will be acquired at an initial Net Property Income (NPI) yield of 5.17%
The Manager’s Chairman, Mr George Wang, commented, “This Proposed Acquisition will strengthen AA REIT’s foothold in Sydney’s resilient business park market. The asset sits on a rare nine-hectare freehold land, within the Norwest Business Park, with good connectivity and direct access to the Sydney CBD.”
“The precinct is also home to a thriving community of established domestic and multinational corporations such as Australia Post, Resmed, IBM and Optus and data centres for the Reserve Bank of Australia and Commonwealth Bank of Australia.
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