The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Interested in a Corporate TUD+ Membership? Access premium content, site tours, event discounts and networking opportunities
Interested in a Corporate Membership? Access exclusive member benefits today
Enquire NowEnquire
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailThu 08 Feb 18

Clarence Property Acquires Hamilton Building for $12m

9ac28af6-7eec-40b7-b605-555052eed3cc

Property funds manager Clarence Property’s unlisted Westlawn Property Trust has acquired a commercial and retail building in the heart of Brisbane’s Hamilton for $12 million.

The fully tenanted asset at 9 Hercules Street Hamilton is a 2,175 square metre commercial precinct currently home to Vystal Property Group, Exercise Sports Science Australia, Corporate Development Mentors and Medi Pro Capital Finance.

“The Brisbane city and fringe market remains highly competitive in the sub $15 million range, so finding an asset that wasn’t over rented with a WALE above 3.5 years was very attractive,” Clarence Property managing director Peter Fahey said.

Related reading: South-East Queensland Poised for Property Upturn

“The site also has an approved unit development which offers flexibility in the future should we decide to develop when the time is right.

The property is located near the $1 billion Portside Wharf, one of Brisbane’s most active retail precincts adjoining the Brisbane cruise terminal.

Clarence has kept their trust busy over the past year with a string of acquisitions and a recent capital raising in a bid to bring more investors into their fold.

The recently launched capital raising for WPT forecasted a seven per cent monthly cash distribution to investors and an 8.6 per cent gross distribution including franking credits.

The successful acquisitions over the past 12 months included the purchase of 201 Leichhardt Street Spring Hill for $14.272 million and 48 Bell-Aire Avenue Northgate for $8.475 million in October 2017.

Related reading: Clarence Property Make $14 Million Spring Hill Acquisition

Commercial precinct 183 Varsity Parade, Varsity Lakes, was secured for $11.8 million in March 2017, bringing the total value of WPT acquisitions over the past year to $46.5 million.

“We continue to invest predominantly in the northern New South Wales and South East Queensland regions, where we see strong potential, and we have spread our interests across retail, commercial, logistics and development assets to leverage opportunities for growth across the board,” Fahey said.

RetailAustraliaBrisbaneDeal
ADVERTISEMENT
TOP STORIES
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
Exclusive

Watchdog’s Court Loss Throws Spotlight on Union Balancing Act

Clare Burnett
6 Min
Time and Place's The Queensbridge Building at 90 Queens Bridge Street in Melbourne's Southbank.
Exclusive

Innovation Keeps Time & Place’s Southbank Skyscraper Rising

Marisa Wikramanayake
6 Min
Breathe Architecture founder Jeremy McLeod in front of his Featherweight Home design
Exclusive

Nightingale Founder’s Bid for Affordable Architectural Kit Homes

Leon Della Bosca
7 Min
View All >
Westmead Gene Technologies Building EDM
Life Sciences

Plans for $272m Parramatta Biomedical Facility Go Public

Clare Burnett
Novus on Victoria Chatswood
Build-to-Rent

Novus Plots Second BtR Tower for Chatswood

Renee McKeown
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
The lowest charges for student digs in the country have helped lure the 488-bed proposal to the city’s East End...
LATEST
Westmead Gene Technologies Building EDM
Life Sciences

Plans for $272m Parramatta Biomedical Facility Go Public

Clare Burnett
3 Min
Novus on Victoria Chatswood
Build-to-Rent

Novus Plots Second BtR Tower for Chatswood

Renee McKeown
2 Min
PBSA DA Hindmarsh Square student accomodation tower
Student Housing

Student-Friendly Adelaide Draws 35-Storey PBSA Proposal

Renee McKeown
3 Min
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/clarence-property-acquires-hamilton-building-for-12m