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UEM Sunrise Acquires Two Prime CBD Land Parcels In Melbourne

KUALA LUMPUR, MALAYSIA, 14 October 2013 – One of Malaysia’s leading property developers, UEM Sunrise Berhad (“UEM Sunrise”) recently on 8 October 2013 completed the acquisition of two prime freehold land parcels in the Central Business District (“CBD”) of Melbourne in Victoria, Australia. The properties, located on 224-252 LaTrobe Street and 9-23 Mackenzie Street, occupies two of the city’s hotspots which have been known to be the World’s Most Livable City for the past 3 consecutive years. UEM Sunrise’s Managing Director/Chief Executive Officer explained that the acquisition marks the Company’s maiden venture into the Australian market, identified as one of the key countries under its strategic regional expansion plan.

The land parcel at 224-252 LaTrobe Street, measuring approximately 3,197square metres, is situated in the heart of Melbourne CBD directly opposite Melbourne Central – the CBD’s largest shopping centre. This prime land parcel has excellent frontages to LaTrobe Street and Little LaTrobe Street, and is also accessible from both Elizabeth Street and Swanston Street. On the ground floor, it has a direct underground pedestrian connection to the Melbourne Central Train Station (part of the City Loop underground railway) and Melbourne Central shopping centre. Within a short walking distance from both the left and right of the site are the two stops for the City Circle Tram No. 35, a complimentary tram route with interchanges to the other tram services lines.

In addition, the site is strategically located in the central of the universities precinct, with the RMIT University, University of Melbourne, Central Queensland University, Victoria University and Swinburne University all within walking distances. It is also close to some of the most popular retail activity nodes in Melbourne including the trendy Melbourne Central shopping centre which is directly opposite and has a direct underground pedestrian connection to Melbourne Central, high fashion Bourke Street, swanky Swanston Street and luxury brands at Collins Street. By 2014, the site will also be linked to the new Emporium shopping centre, Myer Melbourne and David Jones department stores via pedestrian bridges and tunnels through Melbourne Central.

The 9-23 Mackenzie land parcel, which measures approximately 2,030 square metres, is situated in the eastern precinct of the Melbourne CBD. It is located at the corner of the famous 64-acres Carlton Gardens, which houses the World Heritage listed Royal Exhibition Building. This prime land parcel has excellent frontages to Mackenzie Street and the Carlton Gardens and from Drummond Street, as well as excellent access to CBD amenities, with the main LaTrobe Street just being a street away. The site is also a short walking distance from the tram line and the Melbourne Central Train Station.

With close proximity to the RMIT University, University of Melbourne, Australian Catholic University, Central Queensland University and Victoria University, this precinct also attracts affluent white collar workers and medical professionals who want to live close to work but at the same time enjoy the cosmopolitan lifestyle that the location accords. Anchored by The State Parliament of Victoria on Spring Street as well as associated State Government offices, the precinct attracts major corporations that need to be within close proximity of the State Government. In addition, this precinct is home to some of Melbourne’s finest hospitals and health sector related industries such as St Vincent’s Private Hospital, Peter MacCallum Cancer Centre, Epworth Freemason Hospital and Royal Victorian Eye and Ear Hospital.

Currently, both sites have existing commercial tenancies and will be redeveloped as premium residential developments with retail component; infused with arts and culture to achieve vibrant and edgy mixed-use community within the developments, which will be complementary to the specific context of the sites and the larger Melbourne setting.

In ensuring that the most remarkable designs can be attained for both projects, UEM Sunrise has shortlisted three renowned Australia-based architectural firms for an invited design competition, namely COX Architecture, Elenberg Fraser and Fender Katsalidis Architects. All the shortlisted architectural practices have crafted and delivered highly celebrated projects across Australia and in the international arena as well, which was an important consideration in the shortlist of the architects. The winning designs will likely to be unveiled before the end of the year.

“We aspire to create projects that are of valuable addition to the city skyline, and which showcases our ability to deliver quality and unique offerings and products”, said Dato’ Wan Abdullah.

These aspirations will be achieved with the synergy of the Company’s strong track record in high-rise mixed-use and residential developments and experiences largely in Malaysia and also in Singapore and Canada, in creative collaboration with eminent project consultants. Both projects will feature strong assimilation of the rich culture of Malaysia and Melbourne, the progressiveness of the cities and their common hopes for the future.