COMMERCIAL PROPERTY, SALES & LEASING

Half a stake in landmark Brisbane development unlocked

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AN opportunity to buy a 50% interest in Brisbane’s 205 North Quay office development and become a long-term partner with joint owner Cbus Property, is up for grabs.

Located in the growth precinct of Brisbane’s North Quarter and adjacent to the new Roma Street Grand Central Station, this landmark asset is expected to attract international interest, according to agents JLL’s Paul Noonan, Seb Turnbull and Kate Low.

The agents said 205 North Quay was the most exciting offer currently on the market across the country.

“This represents the opportunity to acquire a 50% interest and secure a long-term partnership with joint owner Cbus Property, in a new landmark Brisbane tower,” Noonan said. “With the Commonwealth of Australia committing to the office accommodation for an initial period of 10 years, 205 North Quay delivers the strongest investment characteristics available to investors,”

Developed by Cbus Property and Nielson Properties, 205 North Quay is an A-grade 31-storey tower comprising 43,700sqm of office space, a wellness floor and open-air public plaza at ground level with retail offerings, signature dining experiences and an auditorium. The building is designed to achieve 6 Star Green Star and 5.5 star NABERS ratings.

Turnbull said on completion, 205 North Quay will present as a landmark building on Brisbane’s skyline and will no doubt be in the league of Australia’s best buildings.

“The quality of the building, together with Cbus Property’s assured delivery and long-term partnership, and a long lease commitment to the Commonwealth of Australia, will ensure very competitive bidding from domestic and international core real estate investors,” he added.

The international expressions-of-interest campaign closes at 12pm (AEST) on Monday, 06 December 2021.

Construction is well underway, with completion expected in 2024.

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