This article is from the Australian Property Journal archive
Record Realty has bought an office building on 126 Margaret St in Brisbane for $25.7 million.
The 14 storey building has a total lettable area of 5,737 sqm and 60 basement car spaces, and has recently undergone a partial refurbishment.
The property is situated at the southern end of the Brisbane CBD and is near the Queensland University of Technology’s Garden Campus.
The office accommodation is 100% leased to Queensland University of Technology for 7 years.
The Queensland University of Technology lease features fixed annual 4% rental increases.
The acquisition of 126 Margaret Street, Brisbane was originated and structured by Allco Finance Group.
The initial equity investment by Record Realty is $7.8 million.
Graeme Russell from CBRichard Ellis was the selling agent.
By Adam Parsons
