K-Reit in desperate PR drive?

K-Reit announced its 1st anchor tenant at Chifley Square in Sydney.

It needs many more good news to overcome the negative publicities from the OFC saga recently.

Extract of announcement as below.

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K-REIT Asia Management Limited, as Manager of K-REIT Asia, is pleased to announce its first anchor tenant at 8 Chifley Square in Sydney - Corrs Chambers Westgarth. A leading Australian law firm, the company has pre-committed approximately 87,000 sf of premium office space at 8 Chifley Square in Sydney, Australia, for a 12-year term. This works out to be approximately 40% of the total net lettable area ("NLA") of the building.

This is the first lease for the development, ahead of its completion in the third quarter of 2013. Corrs Chambers Westgarth will be located over levels 9 to 18 of the 30-storey building. The law firm currently has offices in Sydney, Melbourne, Brisbane, and Perth.

Ms Ng Hsueh Ling, CEO of K-REIT Asia Management, said, "The strong pre-commitment level affirms our positive sentiments on the Australian office market. We anticipate healthy demand for the remaining space as 8 Chifley Square appeals to leading corporations which value both the building's prime location and premium quality."

Currently under construction, 8 Chifley Square is located in the heart of Sydney's central business district at the junction of Hunter Street and Elizabeth Street, and will have an estimated 205,700 sf of NLA.