Trinity in Negotiations to Sell Portfolio of Four Brisbane Offices

THE Trinity Enhanced Return Fund is believed to be in negotiations to sell a portfolio of four Brisbane CBD office blocks to a private investor.

The four blocks, on Queen and Wharf streets, are reported to be exchanging for about $53 million, substantially less than the $76 million the fund paid for the buildings several years ago.

The blocks have redevelopment potential, but were sold to improve gearing.

Trinity is also trying to sell a heritage listed building at 308 Queen Street, and the Trinity Development Trust building at 501 Ann Street.

Jones Lang LaSalle and CB Richard Ellis negotiated the Queensland deals, which are in the due diligence stage, according to today's AFR.