FKP sells ‘Gasometer 2’ development

14 May 2013


Thomsons has acted for FKP Property Group on the disposal of the ‘Gasometer 2’ Bank of Queensland building in FKP’s master-planned Gasworks community at Newstead, Brisbane.  Scheduled for completion in late 2014, the “on completion” value of the building is estimated at $160 million.

Partners Chris O’Shea, Andrew Kelly and Phil Byrnes advised FKP on this transaction, with assistance from Special Counsel Daniel Beikoff and Associate Chris Humby.

The Gasometer 2 site was purchased by a joint venture trust ultimately owned by Canadian Public Sector Pension Investment Board (PSP Investments) and Charter Hall’s Core Plus Office Fund.

Gasometer 2 is currently under development. This 15 storey building will comprise approximately 24,800sqm of PCA A-grade office space plus 1,056sqm of retail space.