Blog

December 09, 2019

MAJOR DEALS OF 2019

Now that we’ve done a recap of some of the best deals we have made at McGees, let’s take a look at some of Brisbane’s biggest deals for 2019!

Here are just a few of the ones we have taken notice of:

COMMERCIAL: The biggest deal of the year goes to Cromwell Property Group who finalised the purchase of a George Street office block for $524.75 million. The property is located at 400 George Street and includes 35 levels, with net lettable area of 43,978m2.

COMMERCIAL: Shayher Group purchased a building in Queen Street for $395 million. The investor purchased the Q&A Centre on the corner of Queen Street Mall and Albert Street. The 3,692m2 site has a total net lettable area of 31,708m2.

COMMERCIAL: 348 Edward Street, also known as the IBM Tower, sold for $89 million. The property was purchased by Centuria Property Funds No. 2 Limited and includes 15 levels with a total of 11,123m2 of space.

COMMERCIAL: An office building in Bowen Hills sold for $65.4 million. The building was located at 2 Montpelier Road and includes 7,739m2 of A Grade office space.

COMMERCIAL: Malaysian investor HCK purchased a 16 level building in the CBD for $30 million. The building is located at 116 Adelaide Street and includes just under 7,000m2 of space.

COMMERCIAL: Telstra sold and leased back a property at 280 Elizabeth Street in the city, for $57 million. The property includes 10,600m2 office on a 1,670m2 site.

INDUSTRIAL: REIT Mapletree Logistics Trust purchased 36 hectares of industrial land in Crestmead. The deal was for land at the Crestmead Logistics Estate. Sales Price: $95 million.

 INDUSTRIAL: In a design and construct deal, Fisher & Paykel will lease space in Lytton for 10 years. The deal is for an office-warehouse in Port West Industrial Estate and is valued at $175 million.

INDUSTRIAL: A property at 1425 Boundary Road in Wacol sold for $10.6 million. The property includes two modern buildings with high clearances plus hard stand. It sits on a 1.36 hectare site and has a net lettable area of 5,698m2.

RETAIL/BULKY: AP Eagers sold its auto dealership in Newstead for $61 million. The building includes 12,485m2 of space and sits on an 18,070m2 site at 99 Breakfast Creek Road.

STRATA: One of the biggest strata deals for Brisbane was the sale of an office building in Spring Hill. The property was sold to an investor for $5 million and is located at 170 Leichhardt Street.