Investor-grouping: Investors wanted: Hotel, Eight Mile Plains, Qld

December, 2015: Quest Apartments Eight Mile Plains acquired by major fund manager

The ASIC-listed fund manager paid $21 million for the service apartments in the master-planned Brisbane Technology Park (BTP) in Eight Mile Plains, 15 kms from Brisbane’s CBD.

The new low-rise building features 90 apartments and caters mostly to business travellers.

Commenting on the sale, Robert Stanley-Turner from Box Commercial Estate Agents said, ‘BTP is 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.’

Melbourne-based Box Commercial consults to property syndicators across Australia, monitors sales and trends in group investments and refers individual investors to investor groups.