Brisbane’s Anglo American House has caught the eye of Fortius Funds Management, with the group believed to be chasing the $90 million tower.
The property at 201 Charlotte Street comprises a 15-storey office block in the heart of Brisbane’s financial district, and is seen as well-positioned despite the city’s high vacancy levels. While the building, located in the Golden Triangle, Brisbane’s core commercial precinct, faces some vacancy, Fortius is after towers it believes can be repositioned.
The building’s office space totals 13,420sq m and has typical floors of 876sq m, which may be attractive to smaller tenants keen to share a building with the mining giant that occupies almost 10 floors.
The tower has been quietly marketed by Queensland’s Savio family, which picked up the property in 2008 from GE Real Estate for $85m.
The building has been marketed via CI Australia and Evolution Capital in an increasingly active Brisbane market.
Last month, a private Asian developer bought 545 Queen Street from GPT’s wholesale office fund in a deal through Savills worth about $85m.
The Brisbane Transit Centre has also attracted a new suitor, with Asher Capital running the ruler over the GPT Group’s half stake in the $120 million complex in a CBRE-brokered play.
Fortius, which did not comment last Friday, has been active in both buying and selling property.
The group is a co-owner, with Lend Lease fund, of the 420 George Street office tower and MidCity shopping centre in Sydney’s central business district that is coming up for sale and could reap about $700m.
Earlier this year, Sydney-based Capital Property Funds bought a Parramatta tower from Fortius for about $30m.
On the buy side, Fortius, with the backing of Singapore-based SC Capital Partners Group, bought Sydney’s Bligh House from Cromwell Property Group for $68m. It also bought Taylors House in Sydney’s south for $42.5m for a Singaporean group.