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420 George Street, Brisbane

420 George Street Brisbane City QLD 4000

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For Sale Sold
Office - Institutional Investments
Investment
Property No.

Attributes and Features

Building Area 6019 sqm
Land Area 766 sqm
Parking 17 bays
Energy Rating fullfullhalfemptyemptyempty
2.5-Star NABERS Energy Rating
Last Updated Aug 15, 2019
Status Sold

420 George Street sets the precedent as one of the most ideal investment-grade office opportunities in the Brisbane CBD.  Occupying a commanding corner position across George Street from the Queensland Supreme & District Courts, and within 100 metres* of the Brisbane Magistrates Court, 420 George Street is arguably the best placed office tower in Brisbane’s tight legal precinct.

  • 90%* occupied with 3.22 year WALE (by income as at 1 August, 2019) providing excellent income diversity with minimal short-term leasing risk
  • Brand new 5 year lease to major tenant - Legal Aid (14.3%* of income)
  • Fully leased net income: $3,011,321 pa* (fully leased as at 1 August, 2019)
  • Captive tenant market - 70%* of income from legal sector
  • Set to benefit from growing legal sector with a 16.25% increase in Bar Assn. memberships since 2008
  • Minimal reset costs with incentives for recent re-signs below market average
  • $4.5M* in capex. over the past 3 years and all services done in 2012
  • Within 500m* of $3B* Queens Wharf, 300m* of Shayher Group's $1B* Brisbane Quarter and 50m* from Roma St Cross River Rail Station and $2B* proposed Brisbane Live
  • Roma St Rail Station and King George Busway Station within 250m* radius, plus 150m* to Kurilpa Pedestrian Bridge linking South Bank Cultural Precinct
  • 2.5 star NABERS rating (potential of 5 stars if fully occupied

*Approx

420 George Street, Brisbane420 George StreetBrisbane City, QLD 4000
420 George Street Brisbane City QLD 4000