15 Green Square Close, Fortitude Valley

Property Summary as at Sale Date

Acquisition date
November 2011
Sale date
November 2013
Site Area
2,519 m2
Total area (NLA)
16,583 m2
WALE (income)
8.49 years
Major Tenants
Queensland Urban Utilities/Optus
Sale Price
$110 Million

The 12 storey building at 15 Green Square was CBIC’s first greenfield development, and achieved a 40% pre-commitment to underpin construction. Key tenants included Queensland Urban Utilities, Optus, Regus and Oil Search.

Reflecting CBIC’s commitment to responsible investing, the building was constructed to achieve a 5 Star Green Star Office Design and a 5 Star NABERS rating. The building was 80% leased upon completion in mid-2013 and subsequently achieved 100% occupancy of the office tenancies ahead of divestment (representing 98.5% total occupancy). In November 2013 the building was sold to a major Australian property fund as a long-term investment, with rental guarantees provided over the remaining 88m2 of vacant retail space.