AsheMorgan Completes the Acquisition of The Complex, a Cluster of Three Buildings in the Brisbane CBD

AsheMorgan completes its acquisition of The Complex, a cluster of three buildings in the Brisbane CBD, for $425 million on a yield of 6.4 per cent – the second largest deal of the year.

Two of the largest commercial property deals in Brisbane this year have transacted within just a few days of each other as the improving office market lures investors deprived of assets elsewhere across the country.

Fund manager AsheMorgan completed its acquisition of The Complex, a cluster of three buildings in the Brisbane CBD, for $425 million on a yield of 6.4 per cent – the second largest deal of the year.

“On a global basis, Australia, particularly Brisbane, is attractive on a comparative return basis. Investors were attracted to the strong and diverse mix of covenants underpinned by the Commonwealth of Australia”.

“Brisbane has a compelling value proposition with an average 81 basis point yield discount to Sydney and Melbourne” (Colliers).

See original article: https://www.afr.com/property/commercial/tally-rises-for-brisbane-s-unprecedented-big-ticket-sales-20191015-p530r5