After buying two Brisbane office buildings for more than $300 million in 2021, Cromwell Property Group is switching to the sell side, putting Energex House on the market with expectations of $360 million or more.It’s the second major Brisbane asset to hit the market recently,, ensuring a strong start to the year after a bullish 2021 when more than $1 billion of office properties were sold in the Queensland capital.
It was the first Queensland office to achieve a six-star rating from the Green Building Council of Australia, and its environmental, social and governance credentials will feature heavily in the marketing campaign. “While carbon reduction efforts may not generate higher rents to offset the yield premium today, it will play a prominent role in preserving asset value as occupiers increasingly shy away from properties with sub-par environment performance.”
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