Portfolio management (Brisbane CBD)

Scope of project:

Matt Spillane held direct responsibility for a portfolio of Queensland office assets owned by funds managed within Colonial First State Global Asset Management. The portfolio exposure reached circa $400 million following the acquisition of the landmark 10 Eagle Street office tower in Brisbane, and the completion of a new office tower at 145 Ann Street. Matt’s lead role was to ensure the respective funds’ interests were represented in the acquisition process, along with the delivery by Leighton Holdings of the 145 Ann Street tower.

Outcome:

A critical component of the 10 Eagle Street acquisition was implementation of a refurbishment program which included ground floor lobby upgrade (with improved retail amenity), full lift upgrade, leading-edge end of trip facilities and improved standard floor upgrades. With the exception of the lift upgrade, all works were delivered within 12 months of completing the acquisition. The office tower at 145 Ann Street was delivered on programme, with 100% of rental income locked in for Commonwealth Property Office Fund from day one of building completion.