Barings, on behalf of institutional investors, has acquired 480 Queen St., a premium-grade office tower in Brisbane’s CBD, from Dexus and Dexus Wholesale Property Fund for a total gross purchase price of A$700 million ($489 million). The transaction was completed following a sale process managed by JLL.
The acquisition reflects Barings’ positive outlook for high-quality Australian office real estate and its conviction in Brisbane, where constrained new supply, strengthening occupier demand and ongoing infrastructure investment are supporting premium-grade CBD assets.
Located in Brisbane’s prestigious Golden Triangle precinct, 480 Queen Street is one of the city’s premier office assets. Completed in 2016, the property comprises approximately 56,800 square meters (611,390 square feet) of net leasable area across 32 levels and includes 271 car parking spaces. The building is recognized for its premium tenant amenity, market-leading sustainability credentials and e
