The Australian Financial Review | Property | 11 October 2022
Written by Nick Lenaghan
Local property platform Quanta Investment Funds has bought a recently refurbished office block in Brisbane’s CBD from Anton Real Estate Partners for $39 million, the latest in a run of middle-market moves in the city.
New lease agreements at 157 Ann Street will take the 14-storey office tower’s occupancy from 46.6 per cent to over 90 per cent. Those agreements – including a 2700 sqm deal with EMF Sports Performance and Recovery Centre, which plans to launch its Brisbane flagship health centre in 2023 – will take the property’s passing yield from 3.47 per cent to 8.91 per cent.
Quanta chief executive Stacey Jones said investors have shown strong support, with the investment offer backing the property fully subscribed within 12 days. The investment vehicle is expected to deliver a distribution of 8.15 per cent in its first year.
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