Brisbane Office Towers Hit the Block for the First Time in 25 Years

Canadian property group Quadra Pacific is withdrawing from the Queensland market, listing two major Brisbane office towers with price expectations over the $200 million mark.

The office towers, 16-level 133 Mary Street and five blocks uptown 28-level 288 Edward Street, have both been put up for sale.

The family-owned company bought the properties in 1993, with the listings marking the first time in 25 years both assets have been offered to market.

Quadra has said the decision to sell the properties is to repatriate capital to Canada for other prospects.

Quadra extensively refurbished 133 Mary Street and another refurb is scheduled for Edward Street.

The sites are on the market with Seb Turnbull and Luke Billiau of JLL.

Related: Brisbane Office Market's $2 Billion Investment Boom

Image: JLL

“Both properties are truly unique and competitive in their offering, with exceptional investment fundamentals including central and connected locations, large site areas and a combined $26 million invested in major repositioning and upgrade works over recent years,” JLL’s director of capital markets Queensland Luke Billiau said.

JLL’s head of capital markets Queensland Seb Turnbull said the buildings are perfectly positioned central to Brisbane’s most exciting infrastructure projects.

“Connectivity to the assets will also be significantly enhanced by the proposed Cross River Rail Albert Street Station located in direct proximity,” Turnbull said.

Once the two Brisbane listings are sold, Quadra Pacific's last remaining Australian property will be at 10 Russell Street, Toowoomba, which was purchased in 1995.