Significant lease at AM60 derisks Brisbane property

13 January 2016

Dexus Wholesale Property Fund has secured Queensland Government as a new tenant at AM60, 42-60 Albert Street, Brisbane.

Significant lease at AM60 de-risks Brisbane property Dexus Wholesale Property Fund (“DWPF”) today announced it has secured Queensland Government as a
new tenant at AM60, 42-60 Albert Street, Brisbane (“AM60”).

Queensland Government has leased approximately 7,706 square metres across Levels 7-10, Levels 17-19 and part Level 16 of the building. The lease increases the weighted average lease expiry¹ (WALE) at AM60 from 2.7 years to 4.4 years from the commencement of the lease on 1 December 2015.

DWPF Fund Manager, Penny Ransom, said: “The securing of Queensland Government at AM60 has significantly de-risked the property’s tenancy profile, securing returns over the long term.”

Dexus Regional General Manager, Office and Industrial, Richard Garing said: “Securing Queensland Government as a new tenant at AM60 coincides with the broader improvement we are seeing in tenant demand for quality office space in the Brisbane office market, which is showing signs of recovery.”

¹ By income.

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