Brisbane, 4 August 2014- A 100% leased A-grade office investment has been listed for sale in the tightly held South Brisbane market.
144 Montague Road has a net lettable area of 14,742sqm and comprises six levels of high quality office accommodation, ground floor retail, gym and secure basement parking for 75 vehicles. Completed in 2009, it is classed as one of the premier office buildings in the Brisbane fringe.
Offering large efficient floor plates of 2,900sqm and sustainable design features, the properties position provides excellent views north to the CBD and west across the Brisbane River.
Flint Davidson and Bruce Baker from CBRE are selling the property via Expressions of Interest campaign on behalf of the vendor, Challenger as trustee for Hines Global REIT.
Mr Davidson said the asset is fully leased to ASX listed Ausenco until November 2021, with rent review mechanisms of 4% per annum, providing a strong and increasing cash flow for the remaining seven years of the lease.
“Availability of modern office investments with significant WALE is becoming increasingly rare within Australia. 144 Montague Road offers both these features together with an attractive initial yield in one of the country’s strongest sub markets,” Mr Davidson said.
For further information, please contact Flint Davidson on 0411 183 061 or Bruce Baker on 0413 013 668.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.