166 Creek Street
Brisbane CBD, QLD
Located at 166 Creek Street, in the core of the Brisbane CBD, the asset comprises of three office towers, a total of 52,000 square metres (sqm) of net lettable area (NLA) on approximately 5,600sqm of land opposite Central Railway Station.
The asset was acquired for a value of 425 million dollars (AUD), well below replacement cost, as part of the Investa Oxford commercial office portfolio divestment in October 2019.
On acquisition, the asset was 98% rented to a diverse range of Australian state and federal government tenants with a starting annual distribution of 7.5-8%, growing to over 10% per annum during the investment term.
Asset type: Core Plus
Investment type: Equity co-investment
Forecast return: High-teens + IRR
Status: Live
Warning:
Returns are not guaranteed. Past performance is not a reliable indicator of future performance.
Forecasts are based on assumptions and estimates. Actual performance could differ materially and therefore it is not appropriate to rely on forecasts or assume that they will always be accurate.