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April 29, 2015

215 Adelaide Street presents an unparalleled opportunity to secure a 100% freehold interest in a landmark asset in the heart of the ‘Golden Triangle’ financial district in Brisbane, Australia.

The offering includes two adjoining buildings; a striking 33 storey A-Grade office tower and a 6 storey boutique office building, with a combined Net Lettable Area (NLA) of 29,110sqm.

One of the asset’s key investment attributes is its significant retail offering across both buildings, which enjoys exposure to the city’s exclusive luxury retailing strip and key pedestrian thoroughfares.

Investment Overview
215 Adelaide Street, Brisbane

  • Outstanding institutional-grade asset – the 33 storey, 25,764 sqm commercial office tower is centrally located within Brisbane’s most prestigious commercial precinct and opposite the Brisbane General Post Office.
  • High quality, sought after and fully integrated A-Grade office accommodation with large floor plates, expansive parkland and CBD views, and a history of high occupancy to large, long term tenants including the Commonwealth Government of Australia.
  • Retail offering enjoys exposure to key pedestrian thoroughfares including second busiest pedestrian intersection in the Brisbane CBD and Post Office Square.

Rowes & Rothwells Building, 235 Edward Street, Brisbane

  • Completely repositioned heritage building with 3,346sqm of boutique office accommodation and prime retail space.
  • Retail tenancies are fully leased and enjoy direct frontage to Brisbane’s high-end retail precinct, opposite Queens Plaza and luxury retailers including Burberry, Louis Vuitton and Bulgari
  • Highly secure income stream, with a WALE of 4.4 years (by income) underpinned by leases to high quality office tenants anchored by the Commonwealth Government of Australia, with major national, international and chain retailers.
  • Prime ground floor retail, totaling 2,568sqm across both buildings, underwent a complete refurbishment and repositioning in 2014 and is fully leased with a 7.7 year WALE, and providing 16% of the asset’s total passing income.
  • $30 million refurbishment and repositioning completed in 2014.
  • 5 Star NABERS Energy Rating.
  • 138 car parks.
  • Fully leased net income – $16,896,611p.a.*

* Approx

Click to view a video for the property.

Method of Sale
100% Freehold Interest For Sale via Expression on Interest, closing 4.00pm (AEST) 4th June 2015.

For further information, please contact:

Geoff McIntyre
+ 61 417 718 410
geoff.mcintyre@ap.jll.com

Seb Turnbull
+ 61 407 374 298
seb.turnbull@ap.jll.com

Luke Billiau
+ 61 408 066 165
luke.billiau@ap.jll.com

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