Media Release
Stockland sells Garden Square Office Park, Brisbane
12 August 2016
Stockland today announced the sale of the Garden Square commercial office park at Mount Gravatt in Brisbane to Quintessential Equity for $45.25 million.
Garden Square occupies a 16,650 square metre site and comprises two buildings, of three and four storeys, respectively, offering large floor plates with a total Net Lettable Area (NLA) of 12,623 square metres. Garden Square is located at 643 Kessels Road, Upper Mt Gravatt, 11 kilometres south east of the Brisbane CBD.
John Schroder, Group Executive and CEO Commercial Property at Stockland, said: “Our decision to sell Garden Square reflects our strategy to selectively down-weight our exposure to office at this point in the property cycle, enabling us to recycle the capital into other accretive opportunities.”
Garden Square occupies a 16,650 square metre site and comprises two buildings, of three and four storeys, respectively, offering large floor plates with a total Net Lettable Area (NLA) of 12,623 square metres. Garden Square is located at 643 Kessels Road, Upper Mt Gravatt, 11 kilometres south east of the Brisbane CBD.
John Schroder, Group Executive and CEO Commercial Property at Stockland, said: “Our decision to sell Garden Square reflects our strategy to selectively down-weight our exposure to office at this point in the property cycle, enabling us to recycle the capital into other accretive opportunities.”