15 Green Square Close, Fortitude Valley

Property Summary as at Sale Date

Ownership
100%
Acquisition date
November 2011
Sale date
November 2013
Site Area
2,519 m2
Total area (NLA)
16,583 m2
Occupancy
98.5%
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.