trending Market Intelligence /marketintelligence/en/news-insights/trending/vj2yCul_M0nTt9VqYc8mbw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Cromwell buys Queensland, Australia, office building for A$63.5M

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Real Estate News & Analysis: April Edition

Blog

COVID-19 Impact & Recovery: Investment Banking

Blog

COVID-19 Impact & Recovery: Academia


Cromwell buys Queensland, Australia, office building for A$63.5M

Office real estate investment trust Cromwell Property Group acquired an A-grade office building at 420 Flinders St. in Townsville, North Queensland, from Lancini Property and Development for A$63.5 million, The Australian Financial Review reported.

The building is leased to the Queensland government-owned energy company Energy Queensland and the National Australia Bank and has been placed under Cromwell's Direct Property Fund, which has nine office, retail and industrial properties spread across the Australian Capital Territory, Queensland, Victoria and South Australia.

According to the Dec. 17 report, the nine-level Energy Queensland building spans more than 7,000 square meters of office space and includes ground-floor retail space.

The deal comes as Cromwell is hoping to raise A$300 million from an entitlement offering.