157 Ann Street, Brisbane

Property Summary as at Sale Date

Ownership
100%
Acquisition date
August 2009
Sale date
September 2013
Site Area
917 m2
Total area (NLA)
6,648 m2
Occupancy
91%
WALE (income)
Approximately 7 years
Major Tenants
Brisbane City Council
Sale Price
$39 Million

Purchased in 2009, 157 Ann Street was one of CBIC’s earliest acquisitions, reflecting a commitment to providing our shareholder with a stable income stream with a weighting towards income producing property assets.

Although partially vacant at the time of acquisition, CBIC commenced an active leasing programme and was successful in attracting a variety of tenants, and most notably, signing Brisbane City Council to a multi-floor tenancy.

Following a building refurbishment and after securing a quality covenant, CBIC took advantage of the stabilised capital markets and sold the building to an Australian based property trust.