About the Trust
Trust that owns 25 King, a brand new A-grade commercial office tower in the heart of the $2.9 billion Brisbane Showgrounds redevelopment.
25 King boasts innovative design and state-of-the-art technology, with extensive use of engineered timber.
The developer, Lendlease, has delivered an office tower of the highest quality with leading sustainability features.
25 King is the Queensland headquarters of Aurecon, a global engineering and environmental consultancy firm, who has committed to occupy the building as its anchor tenant for 10 years.
- Brand new asset by a world class developer;
- Innovative engineered timber, delivering environmental performance and amenity;
- A-Grade office building with first-class facilities and abundant natural light;
- Attractive minimum WALE of 7.2 years on completion1;
- Anchor Tenancy from Aurecon, a global engineering consultancy;
- 100% Tax-deferred distributions, for 3+ years;
- Provide unitholders with an attractive, tax-advantaged yield over the trust term, underpinned by strong lease covenants in a high quality commercial real estate asset;
- Actively manage property to generate a consistent income return, with potential for capital growth, and maintain globally leading sustainability credentials;
- Seek an exit that delivers an attractive overall return; expected to occur approximately five years post-completion.
- Fund through construction and ultimately acquire 25 King, an A-Grade commercial office building with Aurecon as the anchor tenant occupying 43.5% of NLA, and the remaining income secured by a rental guarantee from the ASX top 50 listed company Lendlease until first leasing of the remaining area;
- Actively manage the asset to maximise its capital value;
- Achieve and maintain the 6 Star Green Star rating and 5 Star NABERS rating, optimising sustainability outcomes across energy, water, indoor environment and waste;
- Achieve WELL Silver rating;
- Work with Developer Lendlease to secure new tenants for remaining 56.5% of space to further enhance the 7.2 year Weighted Average Lease Expiry;