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M&G moves to sell Melbourne office building for A$180M

M&G Real Estate is looking to sell for A$180 million the Melbourne office building it purchased in 2014, The Australian Financial Review reported.

The company first purchased the 15-story QBE House building in Melbourne's 628 Bourke St. from Investa Office Fund for A$129.6 million and holds it as part of its Singapore-based Asian property fund.

According to the March 28 report, Colliers International has been appointed to to handle the asset sale.

As of March 28, US$1 was equivalent to A$1.31.