Credit Suisse fund $200m Brisbane Office
Global investment investment group Credit Suisse Asset Management has pre-purchased the Jubilee Place office development in Fortitude Valley precinct as an acquisition and fund through arrangement worth up to $200m.
JGL Properties are developing the asset at 470 St Paul's Terrace which will consist of 18,166 sqm of commercial office space (GFA) and feature a new 250 sqm public plaza and laneway which would be activated by the Jubilee hotel as well as new ground retail tenancies including a new beer garden.
The architects, Blight Rayner have designed the building with a distinctive cantilever and external structural load solution to accommodate the heritage building and the M7 tunnels which runs underneath the site.
The development is also targeting a 6 Star Green Star, 5 Star NABERS. Westpac has committed to 3,072sqm of space and International Workplace Group subsidiary Spaces has committed to 4885sqm.
The deal with Credit Suisse was negotiated by JLL.