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News release

BRISBANE

Springfield 10-storey iconic office tower sells

Sold in a deal negotiated by JLL


​Springfield Tower, located at 145 Sinnathamby Boulevard, has been sold in a deal negotiated by JLL's National Director of Metro Sales & Investments, Christian Sandstrom, and JLL's Senior Executive Metro Sales & Investments, Sam Byrne.

JLL sought expressions of interest over a five-week period for the property on behalf of PPB Advisory as appointed Receivers and Managers.

Located in Springfield Central, Springfield Tower is an impressive ten-storey office building providing large rectangular floor plates which enjoy an abundance of natural light and views over the greater Springfield CBD. Constructed in 2008 by leading Queensland builder Hutchinson Builders the property provides 9,459sqm (NLA) of office and retail space and is regarded as the most prominent office building in the greater precinct.

The asset provides a 50% leased building with scope for significant income uplift, with major tenants including: Springfield Land Corporation, The Salvation Army, Department of Housing and Public Works and Northrop Grumman. 

"The landmark is ideally situated in the heart of Springfield Central close to the Orion Shopping Centre, and is within walking distance to the new $1.2 billion rail linking Springfield to all major stations to the Brisbane CBD. This has had significant impetus to attracting new businesses to the area, especially as it continues to grow," said JLL's National Director of Metro Sales & Investments, Christian Sandstrom.

"The Greater Springfield community is nearing 13% completion with over $11.7 billion invested in the project to date; which is estimated to grow to $85 billion by project end. Since the commencement of this project, we have noticed a significant increase in the amount of new capital sources looking to capitalise on Springfield's rapid growth," said Sandstrom

"Throughout the sale campaign, we fielded interest from a broad range of domestic and off-shore groups that saw potential to unlock the property's true value through a refreshed leasing strategy," said Sam Byrne.