Gina Rinehart picks up another CBD office

Developed in 2002, 175 Eagle Street rises 19 floors.

Gina Rinehart has quietly added to her significant property portfolio with an Eagle Street office down the road from another acquired nine months ago.

The latest property, #175, was offered by Charter Hall has held it in the flagship Direct Office Trust for over a decade.

The price, c$240 million according to local agents not connected with the sale, is about market value.

The deal comes nine months since Ms Rinehart paid just over $100m for a 14 level, 11,476 square metre office, 70 Eagle St.

That seller, US-based Pembroke outlaid $123m in 2014.

Last December, meanwhile, another mining executive, Sam Chong, acquired the city’s renovated ex-Westpac headquarters at 260 Queen St from Goldman Sachs and Hines, for a speculated $140m.

175 Eagle Street

Completed in 2002 and renovated in 2014 and five years ago, 175 Eagle St contains 22,258 sqm, including retail, over 19 floors and a multi-level basement car park (story continues below).

Jellinbah East Coast mine owner Sam Chong recently bought 260 Queen Street.

The A-grade office space is renowned in leasing circles for its large typical, column-free floorplates – 1159 sqm.

It has a high occupancy rate too – 94.6pc, anchored to AON Risk Services.

The weighted average lease expiry is five years.

The 3379 sqm block also offers Brisbane River and Kangaroo Point views.

Any deal would come six weeks since CHOT sold East Melbourne’s 1 Nicholson St to Harry Stamoulis for a speculated c$155m.

In May, meanwhile, Charter Hall sold a Brisbane CBD office held with Abacus to Avatar Capital for over $70m.

Subscribe to our newsletter at the bottom of this page.

Share or Recommend article

Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of