CHARTER HALL BUYS SANTOS PLACE, 32 TURBOT STREET, BRISBANE FOR $370.0m

Colliers International, Brisbane Capital Markets as exclusive marketing agents are pleased to announce the sale of Santos Place, 32 Turbot Street, Brisbane, Qld on behalf of our valued client Permodalan Nasional Berhad (PNB) to Charter Hall in partnership with a third party sovereign wealth fund mandate for $370.0m.

32 Turbot Street comprises the following key investment attributes:

• 100% freehold interest offering;
• Core location surrounded by significant public and private investment in major projects and infrastructure;
• Prime-grade building completed March 2009;
• Site Area of 2,196m2*
• Net Lettable Area of 34,710m2* over 37 storeys;
• World leading design and sustainability (6 star Green Star and 5.5 star NABERS Energy ratings);
• Efficient central side-core floor plates (typically 1,110m2 NLA);
• Major tenants including Santos (7,857m2)*, Aurecon (11,070m2)*, Vincents Chartered Accountants (3,185m2)*, Queensland Government (1,010m2)* and 10 separate Barristers Chambers (5,494m2)*
• WALE of 4.1 years*

The sale at $370.0m indicates the following key metrics:

• Initial Yield of 6.03%*
• Capital Value of $10,660/m2*

Please contact me for further information or for a copy of the sales analysis.