Queensland: 100% leased one day, attractive forecast distribution the next.
Queensland investments—there’s something special about them. And one of my favourite spots in Queensland is Brisbane Technology Park (BTP), in Eight Mile Plains. I’ve told you about investments there in the past. I like it for two reasons: the location, which ensures ongoing demand from tenants, and also the high-quality management in place. BTP is a master planned park only 15 kms from Brisbane’s CBD. It’s close to the Gateway Motorway, which leads to the airport, and the Pacific Motorway that runs from the Gold Coast to Brisbane. This part of Queensland is a booming population centre and BTP boasts tenants like Siemens, Johnson & Johnson and Transurban.
A major fund manager has just bought a terrific building in BTP: almost brand new, with lots of natural light and the latest building technology including sub-dividable floor plates.. It’s 100% leased to four major tenants, including one of Australia’s leading suppliers of broadband services, and a security company with more than 5000 staff Australia-wide. There are 115 car parks! One of joys of property planned office parks—imagine how much that saves the tenants, as compared with CBD locations! The WALE is good but just as important are the fundamentals of this building and the location itself.
The ASIC-licensed fund managers are forecasting returns of over 8% for the first three years, which is fantastic for such a flexible office investment.
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