8 Gardner Close
Building Type / Sector: Office
Aquisition Date: June 2018
Purchase Price: $25.23 million
Investor Return: 7.0% per annum
A high quality, refurbished and fully leased office building 2km from the Brisbane CBD. The property has been purchased for $25.23 million, representing a yield of 7.11% from commercial property group Quintessential who successfully repositioned the property to a very high standard over a two-year period.
8 Gardner Close’s metrics are solid. It is 100% leased with a WALE in excess of 5 years, and diversity of tenancy risk with 10 quality tenants, many of whom are first time tenants.