ISPT sells major Brisbane CBD retail asset to private investor for $145m
Anchored by H&M and Uniqlo, ISPT has announced that it has sold 170 Queen Street , Brisbane to a local private investor.
Leading Australian property fund manager ISPT has announced that it has sold 170 Queen Street, Brisbane to a local private investor.
The property, which sold for $145 million, is anchored by H&M and Uniqlo and is only the second transaction along Queen Street Mall since 2019.
Acquired by ISPT Core Fund in 2011, the asset underwent a major redevelopment in 2016 with the introduction of the H&M and Uniqlo flagship stores.
Brett Williams, ISPT Core Fund Manager said: “We are pleased to announce the sale of 170 Queen Street, a major Brisbane CBD retail asset, and are proud of having driven its repositioning over the last decade.”
“The sale is consistent with the ISPT Core Fund’s portfolio curation strategy which will see the proceeds reinvested into the Fund’s existing development pipeline.” he continued.
ISPT continues to hold strategic assets across Queensland including on Queen Street Mall with 150 Elizabeth Street, Wintergarden, 155 Queen Street, Hilton Hotel and Uptown (jointly owned with Vicinity). The gentrification of Queen Street Mall continues to accelerate with Louis Vuitton recently opening its new 1,370sqm flagship directly adjoining 170 Queen Street.
The purchaser was introduced by JLL’s Retail Investments Australia, Nick Willis and Sam Hatcher.
For further information please contact:
Nicole Grove
General Manager, Communications
E: ngrove@ispt.com.au
M: 0427 916 166
