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Stockland add to North Sydney Development site

November 8, 2019

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Fortius & Blackrock trade 201 Charlotte St Brisbane

May 3, 2019

 

Fortius Funds Management and BlackRock-have secured a buyer for their 16-storey CBD tower at 201 Charlotte Street Brisbane.

 

The property has been acquired by Kyko Group for $126.7 million, reflecting a 5.94% initial yield.

 

The A-grade office tower sits on a 1,839sq m site, providing 13,291sq m of net lettable area.

 

The building was previous acquired by Fortius and Blackrock for $81.5 million in 2015 with a further $5M spent on a recent refurbishments, which has established 201 Charlotte Street as a lifestyle hub, offering childcare facilities, an F45 gym, café, end of trip facilities and a valet car service.

 

Anchor tenant, resources company Anglo American, recently extended the bulk of its space in the building until 2028 and sit alongside tenants including Zurich, Urbane Homes, Credit Sense and Inter­Financial Corporate Finance, though the building still has a 13% vacancy rate.

 

Knight Frank and CBRE were appointed to market the property. CBRE indicated that the campaign attracted five bids from local groups and three international offers.

 

Location Plan:

 

 

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