Deal: Herbert Smith Freehills has advised Singaporean investment house HThree on its $236 million acquisition (together with its co-investor City Developments Limited) of 330 Collins Street, an A-grade commercial office tower in Melbourne, from an AMP Capital separate account.

Value: $236 million

Area: Real estate

Key players: The HSF team was led by real estate managing partner David Sinn, with support from senior associate Julia Orbach and solicitor Tom O’Sullivan.

Deal significance: 330 Collins Street is an 18-storey commercial tower with over 18,000 square metres of net lettable area including office space, retail space and parking, and has a committed occupancy of about 90 per cent. The property boasts a 4.5-star NABERS energy rating and five-star NABERS water certification.

The deal, which was completed in just nine weeks, is HThree’s second acquisition in Australia after it acquired 446 Collins Street in 2021, said HThree chief executive Kevin Kang.

“We are pleased to acquire 330 Collins Street, an iconic asset on a prime Collins Street corner,” he said.

VIEW ALL

“We believe that Melbourne’s CBD will continue to bounce back strongly, and that 330 Collins Street is well placed to benefit from the increasing demand for well-located, quality office space.” 

Commenting on the deal, HSF said: “Congratulations to HThree on its successful acquisition of 330 Collins Street, an iconic Melbourne building. We greatly appreciated the opportunity to work with the team at HThree and to bring to the deal the expertise and experience of our Australian real estate team.”