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275 George Street, Brisbane, Australia

275 George Street is a freehold 30-storey Grade A commercial building located in a prime location straddling the core retail precinct and the revitalised George Street precinct of the Brisbane CBD in Queensland, Australia.

The building is close to major infrastructure and amenities, and is surrounded by some of Brisbane’s newest corporate headquarters. It is also centrally located between the city’s two largest railway stations, Roma Street Railway Station and Central Railway Station. Completed in April 2009, the building has a NLA of 449,371 sf, comprising 433,968 sf of office space, 15,403 sf of retail space and 244 basement carpark lots. The building is 99.4% leased with fixed annual rental escalation embedded in the lease agreements.

The ecologically-designed 275 George Street has achieved a 5 Star Green Star – Office Design v2 rating and is targeting a 5 Star As Built rating, as well as a 4.5 Star NABERS Energy rating.

Title Estate in fee simple
Year of Issue of Temporary Occupation Permit 2009
Ownership 50.0% interest an tenant-in-common
Committed Occupancy
(as at 31 January 2010)
99.4%
Net Lettable Area 224,686 sf
Major Tenants Telstra Corporation
Queensland Gas Company
Appraised Value*
S$209.4million
* The 50.0% stake in 275 George Street was valued at A$166.0million, or approximately S$209.4million as at 1 March 2010, the completion date of the acquisition.

Copyright © 2010 K-REIT Asia Management Limited (Co. Reg. No. 200411357K). All rights reserved.