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AEPim unit buys Brisbane CBD office tower

The 27-storey freehold building, which was sold for A$159m, is almost entirely leased to the Queensland government

Kalpana Rashiwala

Published Wed, Feb 3, 2016 · 09:50 PM

Singapore

A PRIVATE property fund managed by Singapore-based AEP Investment Management (AEPim) has picked up a 27-storey freehold office tower in the Brisbane CBD for A$159 million (S$160.7 million).

The price for 41 George Street works out to A$5,307 per square metre or A$493 per square foot based on a net lettable area of 29,960 sq m (322,486 sq ft). The yield works out to about 8.5 per cent.

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