This article is from the Australian Property Journal archive
THE Charter Hall Long WALE REIT has settled on the $63.6 million purchase of the Australian Taxation Office building in Upper Mount Gravatt.
The trust bought the asset in August from LaSalle Investment Management as part of shopping spree which saw it also acquire 37 Telstra properties in a partnership with Charter Hall for $700 million.
Located at 28 MacGregor St Upper Mount Gravatt, the 14,286 sqm office is fully occupied, predominantly leased to the ATO with a WALE of 7.1 years and fixed 2.5% annual rental reviews.
The acquisition price reflected a net passing yield of 7.6% and is the largest metropolitan sale since 2017.
JLL’s Luke Billiau and Seb Turnbull handled the transaction.
