Keppel REIT's Blue & William. (Keppel REIT)

Keppel REIT has secured the tenancy of Equifax at Blue & William, the new office it is developing in North Sydney.

The data and technology company will occupy around a third of the building’s net lettable area, which is approximately 4,350 square metres across levels 5 to 7, said the REIT in an 8 December statement.

Blue & William is a 10-storey development that was acquired by Keppel REIT in December 2021.

Lendlease is developing and managing the asset which has been designed to attain green certifications.

“Blue & William marks Keppel REIT’s strategic expansion into North Sydney”, said Koh Wee Lih, CEO of Keppel REIT’s manager.

“This major commercial district’s connectivity will be enhanced when the new Victoria Cross Metro Station linking North Sydney to Sydney CBD is completed in 2024”.

“We are pleased that Equifax has chosen Blue & William as its preferred business address, reaffirming our positive sentiments on the North Sydney market”.

“In line with Keppel REIT’s commitment towards sustainability, Blue & William is designed to be a smart and green office building, with tenant experience and wellness as a priority”, he added.

Equifax is expected to move in from late 2023.

Keppel REIT was last done on the Singapore Exchange at SGD0.895, which presently implies a distribution yield of 6.64% according to data on the Singapore REITs table.

Related: Keppel REIT continues to see rout in institutional funds with SGD9.5 million outflow

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.