Macquarie Direct Property Fund Buys Queens Road Building

The Fund will pay $26.25 million for the 8400 square metre fully leased 11-storey office tower. The sale price reflects a yield of 7.9 per cent, a record low for Queens Road, which runs parallel to the more established St Kilda Road office precinct.

News of a sale was first flagged in this column two months ago however speculation it was the Macquarie Office Trust that was in exclusive due diligence to buy the property, was incorrect.

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!