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Singaporean investor moves to acquire tallest tower in Melbourne precinct

Singaporean investor Rockworth Capital Partners is looking to buy the tallest office building in Melbourne's St Kilda Road precinct.

According to The Australian Financial Review, Rockworth is now conducting due diligence on the 390 St Kilda Road building as part of a A$90 million agreement with Sydney-based fund manager Fort Street Real Estate Capital, the owner of the asset.

Colliers International has been tasked to oversee the sale of the Melbourne property, the June 7 report noted.

Recently, the Singaporean property investment management firm closed on the Town Square Redbank Plains shopping center in Queensland, Australia, for A$160 million.

As of June 7, US$1 was equivalent to A$1.32.