LaSalle Asia Venture Trust II exchanges on office building in Sydney

SYDNEY (July 28, 2022) — LaSalle Asia Venture Trust II, a separate account managed by LaSalle Investment Management (“LaSalle”), has exchanged on a Grade A office building in Macquarie Park, Sydney.

This transaction, subject to approval by the Foreign Investment Review Board, follows the acquisition of a mixed-use asset in the same precinct by LaSalle Asia Venture Trust I (“LAVT I”) in 2019 and furthers LaSalle’s investment in Macquarie Park, the second largest CBD and the largest technology and life science office precinct in Sydney.

With an advantageous combination of amenities including one of the largest shopping centres in the southern hemisphere, a major university and a hospital, continued improvements in transport infrastructure, as well as attractiveness to many large and international corporations, Macquarie Park is endowed with strong fundamentals for growth.

The property is located on Talavera Road, approximately 12 kilometres northwest of the Sydney CBD. It is situated approximately 400 metres from the Macquarie Park Metro Station, which currently links Macquarie Park to Sydney's heavy rail network. In 2024, it is expected to connect directly with the Sydney CBD in an infrastructure development that will deliver new metro stations across Sydney's northwest and southwest. Once operational, the new line will see a train every 4 min and travel time between Macquarie Park and the Sydney CBD will be substantially reduced.

Completed in 1990, the property is an eight-storey building with a total Net Lettable Area of 12,646sqm, along with 499 (1:25sqm) car parking bays. This car park ratio is the one of the highest in Macquarie Park and cannot be replicated under the current planning scheme.

Adam Donahue, Head of Separate Accounts Asia Pacific and Fund Manager of LAVT II, commented: “This transaction supports our strategy of value creation by focusing on precincts with corporate density, connectivity and excellent amenities. Macquarie Park embodies all of these characteristics.”

Joshua Mudge, Head of Acquisitions Australia, added: “This transaction builds upon our strong track record in Macquarie Park. The robust demand for office space in the precinct, coupled with its established amenities and connectivity are projected to drive strong long-term rental growth.”

The transaction was brokered by Colliers in conjunction with Knight Frank.

About LaSalle Investment Management 
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, we manage approximately $82 billion of assets in private equity, debt and public real estate investments as of Q1 2022. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

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