This article is from the Australian Property Journal archive
PAPUA New Guinea mining company Mineral Resources Lihir Capital Ltd has paid $19 million for a Cairns office complex.
Mineral Resources Lihir Capital Ltd bought the newly built property as an investment from the royalties it receives from the $1 billion Lihir gold project on Lihir Island.
Located at 120 Bunda Street Portsmith, Queensland the sale was negotiated by CB Richard Ellis on behalf of local Cairns developer Gaparin Group and its joint venture partner HS Vision Group.
The price paid reflects a $4,872 per sqm, which is significant for the area.
Built in 2009, the three storey office building comprises 3,900 sqm of lettable space and it is currently leased to a variety of federal and state government bodies including Centrelink and Queensland Health.
Australian Property Journal
