AXA IM - Real Assets has completed the acquisition of a parcel of land with full office redevelopment approval in the Cremorne precinct of Melbourne for $32.5m (£25m).
Acquired from Caydon Property Group on behalf of one of its clients, the scheme at 21 Harcourt Parade will be redeveloped in joint venture with Caydon into an office building as part of a $100m (£76.7m) investment.
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