241 Adelaide St, Brisbane, QLD

The property at 241 Adelaide Street, Brisbane, QLD also known as ‘The Brisbane Club Tower’, was completed in 1988. It comprises four levels of basement car parking for 90 vehicles, foyers to the ground and first levels, retail tenancies and 19 levels of office accommodation. The property is located within the centre of the Brisbane CBD, adjacent to Post Office Square and within close proximity to central railway station.

The property provides contemporary B Grade standard office accommodation. Each floor (excluding the ground level) provides column free space with typical floor plates of 509 square metres. The Property has been progressively refurbished since 2012. 

Key features (at 30 June 2020)

Ownership Interest 100%
Location Brisbane, QLD
Building type B grade - office
Net Lettable area (sqm) 10,075
NABERS Energy rating
NABERS Water rating
Major tenant Pitt & Sherry (Operations)
Occupancy (by NLA) 85.7%
WALE by Gross Property Income 2.3 1 years
* The interest in the Property is held in the form of a head lease from The Brisbane Club over the freehold area. The rent for head lease is $1 per annum, with a 2063 expiry. 2,452sqm of the NLA is sub-let to The Brisbane Club. The rent for the sub lease is $1 per annum, with a 2063 expiry.
1 This excludes The Brisbane Club at 241 Adelaide Street, Brisbane as the tenant has approximately 43 years remaining on the lease and would thus distort the metric
Important information

The Fund is issued by Australian Unity Investment Real Estate Limited (AUIREL) which is owned by Australian Unity Keppel Capital Pty Ltd ABN 67 637 410 505, a joint venture company owned equally by subsidiaries of Australian Unity Limited ABN 23 087 648 888 and Keppel Capital Holdings Pte Ltd CRN 201302079N, the asset management arm of Singapore based Keppel Corporation Limited CRN 196800351N. The information on this website is general information only and is not based on the financial objectives, situations or needs of any particular investor. Past performance is not a reliable indicator of future performance.