Singapore property giant Ascendas REIT has joined the rush of investors pouring money into suburban office property after striking a $110.9 million deal to buy a new eight-level building in Melbourne's south-east that will serve as the new national headquarters for carmaker Nissan.

The 17,500 square metre development at 254 Wellington Road in Mulgrave, about 21 kilometres from the centre of Melbourne, is a joint venture between Asia-based real estate platform ESR and Frasers Property Australia. The building is due for completion in the second quarter of 2020.