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.

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Marc Pallisco

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