Frasers Property Australia is moving to offload a $150 million portfolio of Melbourne office accommodation.
The assets are part of the large, diversified portfolio controlled by the Singapore-listed Frasers Centrepoint after it privatised local property player Australand last year. The two suburban office assets are in Melbourne's south-east. The larger of the pair comprises around 21,000 square metres across three buildings in Mulgrave. 
The Springvale Road property, worth up to $100 million, includes blue-chip tenants Coles, its Wesfarmers-owned stablemate Kmart, and logistics operator Toll.
In inner-city Richmond, a building with about 8000 square metres is also on the market. The Church Street property, part of a corporate park, has a variety of tenants including fashion retailer Country Road.
Frasers has appointed the Colliers International and JLL agencies to handle the properties.
Frasers has been reworking the diverse portfolio it took over with former Australian empire Australand, including recycling capital as it looks to maintain its development pipeline.
Earlier this year, the Singapore-controlled group divested its redevelopment of the former stock exchange building in Collins Street in Melbourne, selling it into the Frasers Commercial Trust for $222.5 million. It also reaped $224 million when it shifted the Sofitel Wentworth in Sydney into the hospitality trust it manages.
The rebranding of Australand as Frasers Property Australia was effected last month, with Rod Fehring as chief executive. Mr Fehring hopes to broaden the group's market reach, develop supplementary asset classes and align itself with Frasers' Singapore-based property trust platform.