370 Queen Street, Brisbane

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eastwood

 

 

Overview

The Property is located within the central part of Brisbane's commercial precinct (known as the "Golden Triangle") and within 150 metres of the GPO, 250 metres of the Central Railway Station and 100 metres from the Riverside City Cat Terminal. The property neighbours some of Brisbane's most prominent properties including Central Plaza, Riverside Centre and the ANZ Centre.

 

The Property, a 7 level building with street frontage to Queen Street, is currently 100% leased, has commercial tenants that provide approximately 75% of the gross rental income, with the balance retail and car parking income.

 

There is potential for QSM to purchase the adjoining property at 366 Queen Street which may allow the Manager to lodge a Development Application amalgamating both properties. We have an agreement in principle to perform a joint development with the owner of 366 Queen Street and a First and Last Right of Refusal to purchase the building, if it is put for sale by the current owners.

 

 

Objective and Strategy

 

 

 

Key Information

 

Type Office
Structure Syndicate
Opened/Closed-End Closed
Fund Vintage June 2004
Strategy Opportunistic & Value Add
Property Allocation Mixed Use - Majority Office
Georgaphic Focus Brisbane
Target IRR (Gross)  
Target Leverage  
Status Closed
Life Span  
Total Investment $13,082,500
Total Value $12,477,500
Gross IRR 29.5%
Investment Multiple 2.2x

 

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