Savills Investment Management agreed to acquire Brisbane office property for Pan-Asian flagship strategy

Savills Investment Management has agreed to acquire HQ South, a class A office building in the Fortitude Valley precinct of Brisbane, Australia, from M&G, for its flagship Pan-Asian strategy.

The asset comprises a modern 14,588-square-meter (157,024-square-foot) building in the Fortitude Valley precinct, with 1,503 square meters (16,178 square feet) of food and beverage tenants, a supermarket, GP clinic and other medical tenants to complement the upper-level office component of 13,085 square meters (140,846 square feet).

HQ South has a strong income profile, with anchor tenant CPB Contractors and 60 percent of income secured for three years. As an area popular with engineering and construction firms, it is set to benefit from the large amount of infrastructure investment planned and underway, including the Olympic Games in 2032. As a result of this and wider COVID-related trends, the southeast Queensland region is  experiencing net positive migration boosting ec