Aware Super’s property arm, Aware Real Estate, has agreed to buy The Barracks precinct in Brisbane for about A$150 million ($97.7 million).
The site at 61 Petrie Terrace covers 1.09 hectares (2.69 acres) and includes five buildings that combine heritage structures with a modern office tower and retail space anchored by Coles and Palace Cinemas. The complex totals 19,433 square meters (209,200 square feet), with 10,393 square meters (111,850 square feet) of office space, 9,040 square meters (97,300 square feet) of retail space, and 451 parking spaces.
The property, currently 97 percent occupied, was sold by Fortius Brisbane Barracks Trust, which bought it in 2018 for A$162.32 million ($106 million).
Aware Real Estate plans to upgrade and revitalize the precinct through new retail and food leasing, office improvements, and enhanced placemaking.
