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Report: Brisbane, Australia, office complex poised to fetch up to A$390M

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Report: Brisbane, Australia, office complex poised to fetch up to A$390M

Queensland Investment Corp.'s divestment of an office complex in Brisbane, Australia, is expected to fetch between A$370 million and A$390 million, The Australian Financial Review reported, citing unnamed sources.

The government-owned investment company is selling the Q&A Centre with the help of JLL and Colliers International. The complex comprises the Albert Lane-connected office towers at 141 Queens St. and 140 Elizabeth St. and is the last office property of Queensland Investment's QIC Property Fund, according to the publication.

Q&A Centre, which features 207 on-site car parking spaces and basement parking slots for bicycles, is leased to various tenants including JB Hi-FI, Vodafone, Windsor Smith, Citibank, Vapiano and Universal.

Queensland Investment acquired the property in 1994 and subsequently transferred the asset's ownership to its fund, the May 23 report added.