HSBC Trinkaus sells George Street offices for $520 million

By Naomi Neilson|29 September 2019

Baker McKenzie has assisted HSBC Trinkaus in the sale of a Brisbane office building.

Firm: Baker McKenzie (HSBC Trinkaus)

Deal: Baker McKenzie has assisted HSBC Trinkaus in the sale of 400 George Street, Brisbane to Cromwell Property Group for a total sale price in excess of $520 million.

Value: In excess of $520 million.

Area: M&A.

Key players: The team was led by head of real estate in Australia David Jones, and supported by senior associate Tatjana Giutronich and special counsel Sarah Merrett.

Deal significance: HSBC Trinkaus sold its 50 per cent interest in the property, which it has held since it originally acquired the site in 2007, working with its then co-owner Grosvenor on the development of the office building.

400 George Street is a 35-level building with a total net lettable area of 43,978 square metres across office, retail and childcare. A 99.8 per cent occupancy rate underpinned blue-chip corporate and state and commonwealth government tenants.

Mr Jones said: “It was a highly complex transaction which yielded a great result and brought an end to 12 years of work supporting our client in managing its ownership of the property.”

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HSBC Trinkaus sells George Street offices for $520 million
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