595 Collins Street, Melbourne bought by Hong Kong investor Foo Hang Jewellery
Hong Kong investor Foo Hang Jewellery (FHJ) has bought a Melbourne office complex for $314 million.
The purchase of 595 Collins Street in Melbourne from South Korea's National Pension Service, is the first time FHJ has invested in Australian property.
Comprised of two interconnected buildings, the 20-storey tower spans 3,778 square metres and includes three ground-floor shops and 145 basement car spaces.
Allens advised on all aspects of the purchase, including the contract negotiations and the Foreign Investment Review Board (FIRB) application.
"We were pleased to act for FHJ in one of Melbourne's largest commercial property transactions over the last year," said Allens’ managing associate, Tim Chislett (pictured below).
"Offshore investors are continuing to show strong interest in Australia's premier office towers and we were delighted to support FHJ with this acquisition," he said.
