# Suntec Reit to divest three Australian assets, focus more on Singapore - **Source:** EdgeProp Singapore - **Published:** 2026-09-21T04:51:21.000Z - **Author:** Ashley Lo - **Original:** https://www.edgeprop.sg/property-news/suntec-reit-divest-three-australian-assets-focus-more-singapore - **Topics:** Commercial & Industrial, New Launches, Transactions & Deals ## Featured rationale The divestments signal a preference for Singapore’s limited commercial supply and tight vacancies, potentially increasing acquisition flexibility while reducing Australian interest-rate and earnings pressures. ## AI summary Suntec Reit will market three Australian commercial assets for sale, aiming to reduce its aggregate leverage ratio to below 40% and refocus on Singapore. ## Original article Suntec Reit will be launching formal sales campaigns for three freehold commercial properties in Australia, comprising 177 Pacific Highway and 21 Harris Street in Sydney, and 477 Collins Street in Melbourne. Located within North Sydney’s CBD, 177 Pacific Highway is a 31-storey Grade A commercial development. The recently completed 21 Harris Street is a nine-storey, Grade A office building in Pyrmont, west of Sydney’s CBD. Both are fully owned by the Reit. Meanwhile, Suntec Reit holds a 50% stake in 477 Collins Street, a 39-storey, premium-grade office development known as Olderfleet, in Melbourne’s CBD. Read also: Scotts Square mall changes hands for $310 mil, wrapping up Wharf REIC’s Singapore portfolio divestment According to a Sept 21 bourse filing, the divestment plan follows a strategic review undertaken by the Reit after a change in its sponsor. This is part of a portfolio reconstitution to reduce overseas exposure, starting with Australia, sharpen its focus on the growing Singapore portfolio and improve its capital structure. Under the divestment plan, the manager says the Reit will focus more on Singapore, given the country’s macroeconomic and political stability and the relative strength of the Singapore dollar, particularly amid economic uncertainty and high inflation. The manager added that Singapore’s commercial property market “remains favourable”, supported by limited new supply and tight vacancy rates. It will continue to explore opportunities to strengthen Suntec REIT’s presence in the city-state. The divestments of the Australian assets are supported by “improving conditions in Australia’s capital markets and continued investors’ interests in high-quality, well-leased assets with stable income streams”, the bourse filing noted. Chong Kee Hong, CEO of Suntec Reit’s manager, said the successful divestment of the assets will reduce the Reit’s aggregate leverage ratio to below 40%, providing greater flexibility for future acquisitions, unit buy-backs and/or capital distributions. Read also: Gordon Tang's Acrophyte to acquire Suntec REIT manager from ESR “This would also reduce the earnings drag arising from the high-interest rate environment in Australia and improve the Reit’s interest coverage ratio.” ## Chinese translation > Translation model: grok_cli ### 新达房地产投资信托拟出售三处澳洲资产，将更聚焦新加坡 该出售计划是在该信托更换保荐人后进行战略检讨后提出的。 新达房地产投资信托（Suntec Reit）将就澳洲三处永久地契商业物业启动正式销售，包括悉尼的177 Pacific Highway和21 Harris Street，以及墨尔本的477 Collins Street。 177 Pacific Highway位于北悉尼中央商务区，是一栋31层甲级商业大厦。近期落成的21 Harris Street是位于悉尼中央商务区以西Pyrmont的一栋九层甲级办公楼。这两处物业均由该信托全资持有。 同时，新达房地产投资信托持有墨尔本中央商务区477 Collins Street 50%的股权，该物业是一栋名为Olderfleet的39层优质办公楼。 另读：Scotts Square商场以3.10亿新元易手，九龙仓房地产投资公司完成新加坡投资组合出售 根据9月21日的交易所公告，该出售计划是在该信托更换保荐人后进行战略检讨后提出的。 此举属于投资组合重整的一部分，旨在降低海外敞口，首先从澳洲开始，更聚焦不断增长的新加坡投资组合，并改善资本结构。 根据出售计划，管理人表示该信托将更聚焦新加坡，原因是新加坡宏观经济与政治稳定，以及新元相对强势，尤其是在经济不确定性和高通胀的背景下。 管理人还称，新加坡商业地产市场“依然有利”，受惠于新增供应有限、空置率紧俏。该信托将继续物色机会，加强新达房地产投资信托在新加坡的布局。 交易所公告指出，出售澳洲资产得到“澳洲资本市场状况改善，以及投资者持续关注优质、租约良好且拥有稳定收入流的资产”的支撑。 新达房地产投资信托管理人首席执行官张祺丰表示，成功出售这些资产将使该信托的总杠杆比率降至40%以下，为日后收购、回购单位及/或资本分派提供更大灵活性。 另读：Gordon Tang旗下Acrophyte拟从ESR收购新达房地产投资信托管理人 “此举也将减轻澳洲高利率环境带来的盈利拖累，并改善该信托的利息覆盖率。”