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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Head of Listed Investor Relations