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Telstra tenancy Brisbane’s biggest lease for 2016

Telstra tenancy Brisbane’s biggest lease for 2016

The 13-year commercial lease of Brisbane CBD offices by Telstra was the largest such deal for last year.

Firms: Sparke Helmore (Charter Hall and Keppel REIT); Undisclosed (Telstra)

Deal: Telstra has entered into an agreement for the long-term lease of commercial office space.

Value: Undisclosed

Area: Property

Key players: The Sparke Helmore team advising Charter Hall and Singapore’s Keppel REIT on the deal was led by partner Theo Casimatis. Senior associate Borhan Borhani assisted.

Deal significance:

Under the agreement, Telstra is leasing office space across two properties in Brisbane's CBD at 275 George Street and 69 Ann Street.

The George Street property is jointly owned by Charter Hall and Keppel REIT, while the Ann Street property is owned by Charter Hall.

According to a statement released by Sparkes, the 30,000 square metres of space Telstra has leased until 2029 is the “biggest commercial leasing deal carried out in Brisbane in 2016”. The value of the deal remains undisclosed however a spokesperson from Sparkes confirmed the dollar value was also classifies it as the largest commercial leasing transaction of the year.

“It is great that we were able to assist two major organisations come to a mutually beneficial long-term arrangement,” Sparkes lead partner Theo Casimatis said.

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