Keppel REIT Management Limited, in its capacity as manager of Keppel REIT, has sold its 50 percent stake in 275 George Street, Brisbane, Australia, to Charter Hall Wholesale Management, which owns the other 50 percent of the property.
The sales price is A$275 million ($205 million).
Completed in 2009, 275 George Street is a 31-story freehold office building located in Brisbane's central business district with 41,720 square meters (449,070 square feet) of net lettable area.
The development has a committed occupancy of 90.6 percent as of March 2021. Its principal tenants include Telstra Corporation and the Shell-operated Queensland Gas Company.
The property was acquired by Keppel REIT in 2010 as its first Australian asset.
