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News release

Brisbane

Competitive $40m office sale in the heart of Brisbane’s financial precinct


BRISBANE, 15 February, 2013 - Jones Lang LaSalle’s Geoff McIntyre and Seb Turnbull have announced the sale of 443 Queen Street, Brisbane, from Bramley Properties (No. 2) Pty Ltd to a Private Investor for $40,000,000.
 
The sale reflects a passing yield of 5.85%, an equivalent yield of 8.33% and a sale rate of $7,176/sqm (approx).

Jones Lang LaSalle’s Geoff McIntyre said the property was competitively sought during the short three week Expressions of Interest process, with its prime location, boutique nature and development potential (STCA) being the key attractions of the asset.
 
443 Queen Street is an A-grade office building comprising six levels of commercial office space, completed in 1983 and refurbished in 2009. Neighboured by Customs House to the South, a park to the North and the Brisbane River to the East, the building offers a premium position enjoying exceptional views of the Brisbane River.
 
The building is a six storey commercial office building completed in 1983 and extensively refurbished in 2009. The improvements provide a total Net Lettable Area of 5,574sqm, and car parking for approximately 43 vehicles. 443 Queen Street is centrally located in the heart of Brisbane’s financial precinct - the ‘Golden Triangle’. Neighboured by Customs House to the South, a park to the North and the Brisbane River to the East, the building offers a premium position. As a result, all floors enjoy exceptional views of the Brisbane River.