ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Impact To Acquire Brisbane Office Tower For $130 Million

K1_home_K1-e1433994749860

Melbourne-based syndicator the Impact Investment Group has agreed to acquire Lend Lease's K1 office tower in Brisbane's Fortitude Valley for $130 million, the Australian Financial Review reported.

It said that Impact Investment, controlled by Chris Lock and "Small Giants", the family office of Daniel Almagor and Berry Liberman, was now offering investors a product called the IIG K1 Property Trust.

The trust is forecasting average distribution of 10 per cent per annum.

The building at 1 King Street has just been completed and is the first of three towers at Lend Lease's Kings Gate commercial precinct at the RNA redevelopment.

ALSO SEE: Forza Snaps Up Brisbane Office Tower

It is a nine-storey, A-grade building, including 16,600-square-metres of space, with a 100 per cent income guarantee from Lend Lease and a weighted average lease expiry of 8.7 years.

The building is Lend Lease's Queensland headquarters and it has committed to stay for 12 years.

The paper said that Impact Investment Group has acquired about $200 million in assets since it began in early 2013.

ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://https://theurbandeveloper.com/articles/impact-acquire-brisbane-office-tower-130-million