Forza 365 St Pauls Terrace Fund.

365 St Pauls Terrace, Fortitude Valley, QLD

Project Description

The Forza 365 St Pauls Terrace Fund was an unlisted commercial office fund which held two existing office buildings comprising NLA of 1,753m2 and 17 car parks on a land allotment of 2,052m2. The properties were fully leased and were located in a strategic precinct known as the Fortitude Valley Heart which encourages a range of mixed use and development outcomes.

As a combined land holding of over 2,000m2 the site was able to accommodate up to 25 levels of redevelopment however the assets where purchased at a price reflecting their raw commercial office value.

This Fund was a strategic investment in an emerging location and an improving Brisbane market. The properties were purchased at their underlying land value and returned an attractive yield to investors whilst a value adding process was undertaken.

The sole assets of the Fund were sold with the existing leases in place in February 2016 for $13,000,000 after being purchased for $7,070,000 in October 2013. Investors in the Fund have had $2.08 returned for each $1.00 invested (net of all expenses and fees) resulting in an IRR of 36.5% per annum.

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