This article is from the Australian Property Journal archive
CREDIT Suisse has completed its $169.5 million acquisition of 55 Elizabeth St Brisbane from Grocon.
The project was sold by Jones Lang LaSalle.
The price reflects an initial yield of 7.39% and a sale rate of $8,904 per sqm.
On completion, the building will comprise a 15 storey A Grade building totaling 19,037 sqm of space.
The Australian Taxation Office has committed to a 15 year lease for the office component (18,517 sqm). The lease includes two 5-year options with annual reviews of 3.75% per annum, from a commencement rent of $695 per sqm gross.
Australian Property Journal
