SOLD: 200 Creek Street, Brisbane for $38,700,000

Seb Turnbull and I are pleased to announce the sale of 200 Creek Street, Brisbane to a Sentinel Property Group managed trust for $38.7 million.

The Expression of Interest campaign was conducted on behalf of Centuria Property Funds Limited, who had progressively refurbished a number of tenancies over the last three years and had successfully leased approximately 22% of the NLA over the last 18 months.

The campaign attracted a variety of domestic syndicators, value-add investors and offshore capital sources noting the asset's high quality improvements, strong cashflow characteristics, demonstrated leasing success and future value-add opportunity. 

Brisbane's commercial office market continues to provide a clear value proposition to interstate markets, and with tangible signs of improvement in the State's economic performance now evident, we are expecting activity and interest in Brisbane to continue to improve over 2017.

For detailed sales analysis please click here.