239 George Street is prominently located in the heart of the legal and government precincts of Brisbane.

In close proximity to major transport and retail hubs, the building offers quality office space with good natural light over 24,000sqm of NLA. It incorporates ground floor retail space and 30 levels of office accommodation.

Highlights

  • 24,302 SQM
    Total Lettable area
  • $126.3 million
    Book
    Value
  • 4.0 Years
    Weighted Average lease expiry
  • 4.5
    4.0
    Stars
    Energy | water Nabers Rating

Key Features

Building grade B Grade
Ownership 100%
Acquired/built/refurbished 1998/1976/2006
Car spaces 21
Lettable area 24,302sqm
Average floor plate 750sqm
Passing face rent $602psqm pa gross
Net property income $5.9m
External valuation/date $127.0m/Nov 2015
Value/lettable area $5,226psqm
Book value $126.3m
Cap rate 7.75%
Discount rate 8.25%
  • LEASE EXPIRY PROFILE BY INCOME
Vacant
16% OCCUPANCY 84%
FY17
8%
FY18
16%
FY19
16%
FY20
12%
FY21
11%
BEYOND
22%

Major Tenants

City Beach 2,619sqm 11% of NLA

EXPIRY July 2023

BT Lawyers Pty Ltd 1,752sqm 7% of NLA

EXPIRY July 2022

Cullen Services Pty Ltd 1,174sqm 5% of NLA

EXPIRY May 2019