German investment firm buys office property in Brisbane, Australia

Deka Immobilien buys office property in Brisbane, Australia

German investment firm Deka Immobilien has acquired an office property in Brisbane, the capital of the state of Queensland in northeast Australia, for €230 million (app. A$380 million), from a 50:50 joint venture between Lendlease’s Australian Prime Property Fund Commercial and the Abu Dhabi Investment Authority (ADIA).

The top property “Central Plaza Two” is located in Brisbane’s “Golden Triangle” in the heart of the Central Business District. 

It comprises a rentable area of ​​around 32,000 square meters, 211 parking spaces, 125 bicycle parking spaces and high-quality “End of Trip Facilities”, which represent regeneration options for tenants as well as general areas for showers, bicycle repairs, a fitness center, etc. The property is used by 22 tenants, with Queensland Investment Corporation as the primary tenant. 

The office property in Brisbane was built in 1990 and was revitalized in 2018. It is certified with 4.5 NABERS stars. The energy efficiency and environmental impact assessment system NABERS was created in Australia in 1999 for the uniform assessment of buildings. The best possible rating is five stars.

READ ALSO : Lendlease to sell Engineering business