- $46.7 million
The property is a B-Grade office building located in Brisbane’s CBD. The asset is in the legal precinct with views directly over the Brisbane river and within a three-minute walk to the Brisbane law courts. The asset benefits from being within close proximity to major new infrastructure projects including the Queens Street Wharf redevelopment, W hotel and the Brisbane Live entertainment precinct.
HISOT targets core plus returns by acquiring Australian office assets with opportunity to add value through active asset management. This ethical investment philosophy targets commercial returns in conjunction with improving energy efficiency.
EG is delivering a repositioned office building with upgraded amenity servicing the requirements of existing tenants including new shared meeting facilities. A leasing campaign has commenced following the capital works program.
EG is targeting improving NABERS energy ratings from 2, at acquisition, to at least 4.5 stars through operational and capex investment.
We believe the asset is well positioned to take advantage of the improving Brisbane office market and the substantial level of infrastructure investment in the Brisbane CBD.