Investa Commercial Property Fund (ICPF) has appointed CBRE and Inc Re to market a 25% stake in Perth’s QV1 office tower.
Located at 250 St Georges Terrace, QV1 is a 43-storey office tower centrally positioned in Perth’s western end, anchored by tenants including Chevron Australia, Herbert Smith Freehills, King & Wood Mallesons, Allens and Clayton Utz.
The building comprises 60,462sqm premium grade office space, as well as more than 2,000sqm of retail space, which is currently undergoing major redevelopment. The property also includes gym facilities, an auditorium and extensive car parking accommodating 1,069 vehicles.
CBRE’s Lloyd Jenkins and Aaron Desange, conjunctionally with Inc Re’s Josh Cullen, and Rick Butler have been appointed to market a 25% interest in the property on behalf of ICPF, which owns a 50% stake in QV1.
Mr Jenkins said the sale represented an outstanding investment opportunity to secure a substantial stake in a Perth landmark.
“Designed by renowned Australian architect Harry Seidler, QV1 is a timeless office tower ideally positioned at the western gateway to the Perth CBD, nearby Brookfield Place and Woodside’s new building,” Mr Jenkins said.
“The building is currently undergoing major upgrades to its podium, end of trip and retail facilities, which will further cement its position as one of Perth’s leading commercial destinations.”
Inc Re’s Josh Cullen commented on the sale opportunity: “This offering represents a rare chance to secure an interest in a true landmark, premium grade asset, which has a strong exposure to international and national covenants.”
Completed in 1991, the Harry Seidler-designed building provides sweeping views of the Perth CBD, Swan River and Kings Park.
The 25% interest in QV1 is being offered for sale via Expressions of Interest closing November.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The Company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website atwww.cbre.com.
