Aviator Capital is paying $25 million for an Ipswich commercial property comprising a six level office and the town’s historic ex-post office.
Tower Central at 114 Brisbane Street was offloaded by Trilogy Funds Management, which paid $22.35m in 2015.
It has been held in a single-asset trust which returned an eight per cent monthly distribution.
The property’s renovated heritage component faces Limestone St and was last year rented to RPS Global and Artius.
The six level extension, added in 2009 by DeMartini Fletcher and Rohrig Group, is majority leased to Bendigo and Adelaide Bank.
With a total 4564 square metres of A-grade lettable area, other occupiers include Australia Post and the Department of Justice; the Weighted Average Lease Expiry is just over three years (story continues below).
There is also a 74 bay basement car park.
The site spreads 2834 sqm.
The Sydney purchaser will also hold the asset in a single-asset trust, the Aviator Ipswich Fund, due to mature in 2025.
Ipswich is about 40 kilometres south west of Brisbane.