Charter Hall's $275M Brisbane spend
Charter Hals' Direct office Fund has secured the purchase of QIC's 61 Mary Street Brisbane for $275M. The 5 Star NABERS Energy rated building features 28,749 square metres of net lettable area across 17 levels, in addition to a two-floor basement comprising 253 car bays.
Over the past several years 61 Mary Street has undergone a $44 million refurbishment, and features one of the biggest floor plates available in the Brisbane CBD, between 1,525 and 2,030 square metres across a substantial 3,646 square metre site.
Fully occupied by the QLD State Government under a lease until 2029, the asset provides a 10.5 year weighted average lease expiry (WALE) and a passing yield of 5.6%.
Charter Hall have invested over $520M this year in Brisbane with the acquisitions of 217 George St, 40 Tank St, 85 George St and now 61 Mary St.