South Regional Business Centre

Property Summary at Sale Date

Ownership
100%
Acquisition date
3 July 2012
Sale date
30 April 2020
Site Area
3,600m2
Total area (NLA)
4,198m2
Occupancy
100%
WALE (income)
Approx. 7 years at sale date
Tenant
Brisbane City Council
Sale Price
$35.25 million

The South Regional Business Centre (SRBC) was purpose-built in 2012 for its sole tenant, Brisbane City Council. Built to a 4.5-star NABERS and 5-star Green Star rating, the property reflects CBIC’s ongoing commitment to environmental sustainability and responsible investment. SRBC is located adjacent to Yeerongpilly train station and will adjoin Yeerongpilly Green, a mixed-use master-planned community due for completion in 2028.

With 69% of CBIC’s portfolio located in Brisbane and a 58% concentration in the office sector, the decision was made to offer SRBC for sale through an expression of interest process in FY19. Following a highly competitive campaign, CBIC had the benefit of a long settlement, completing the sale of SRBC on 30 April 2020 to WA-based property developer and manager Ascot Capital. SRBC was sold for $35.25 million.