Brisbane’s Post Office Square Snapped Up In Large Deal

In the largest retail deal so far this year, well known Brisbane retail arcade Post Office Square was purchased for about $95 million by Global investment manager LaSalle Investment Management. Located underground between Queen Street and Adelaide Street, Post Office Square has a net lettable area of 1,756 square metres along with 29 specialty tenants, six ATMs and […]

post-office-square

In the largest retail deal so far this year, well known Brisbane retail arcade Post Office Square was purchased for about $95 million by Global investment manager LaSalle Investment Management.

Located underground between Queen Street and Adelaide Street, Post Office Square has a net lettable area of 1,756 square metres along with 29 specialty tenants, six ATMs and a 316-bay car park.

The proposed development involves the construction of a 30-storey mixed use development with 270 apartments, comprising a podium and tower form with retail uses in the lower levels and multiple dwelling units in the tower. At podium level 1 a total of 380 square metres is proposed to accommodate a mix of retail activities including shops, restaurants and a hotel forming part of the broader “Valley Metro” site, which is intended for progressive redevelopment.

The $95 million Post Office Square deal is expected to settle later in January 2017.

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Source: The Urban Developer

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