Acquisition of 50% interest in development at 1 William Street, Brisbane

ISPT has acquired a 50% of the development at 1 William Street, Brisbane from Cbus Property. Cbus Property is the developer and retains 50% ownership.

1 William Street will be Brisbane’s newest premium A grade commercial office building and is scheduled for completion in October 2016. The tower will comprise a total NLA of 75,000 sqm over 43 levels and features 39 levels of office accommodation, ground and lower ground retail amenities of 1,169 sqm and three levels of basement car parking for 318 vehicles. The office component has been pre-leased to the Queensland Government.

Upon completion, 1 William Street will target a 5 Star Green Star and 5 Star NABERs Energy rating.

Daryl Browning, Chief Executive Officer, ISPT said: “We are delighted to be entering this joint venture with Cbus Property. Our strategy is to acquire quality investment grade assets with strong income security. The long term lease to the Queensland Government is an excellent match for our superannuation fund investors.”