K2 Private Back on Eagle Street prize

Press Release - January 2015

K2 Private has been appointed as sole leasing agent for 145 & 167 Eagle Street. Both 145 & 167 Eagle St are owned by Bramley Properties a private investment company. Stuart Moody Director of Property at K2 said “It is great to be appointed sole agents on these two important CBD buildings as we have had a long history with these assets having assisted the owner to purchase them back in the early 2000’s through Keystone Private. read more

K2 Private has been appointed joint Leasing Agents: IBM Building – 348 Edward St Brisbane

Press Release - November 2014

K2 Private has been appointed joint Leasing Agents on Peter Harburg’s 11,100m2 IBM Building.

K2 private will join forces with Campbell Tait of Knight Frank to source and secure tenants for the vacant 8 floors totaling 7,000m2.

Tessa Group takes Queen Street Office

Press Release - June 2014

Brendan Tutt’s new property company Tessa Residential Group has secured a new headquarters in 400 Queen St, Brisbane.

Tessa Group are an integrated property company specialising in development, advisory /project marketing and property and building management. Since commencement over the last month Tessa Group has been appointed to advise and project market a $150m inner city project, secured their first inner city development site and manage $220m of assets under their Tessa Residential property and building management brand. read more

120 Edward St – Outperforms competitors due to quality of existing fitouts

Press Release - June 2014

“Some tenants prefer to spend their incentive on new fitouts while others prefer to inherit existing fitouts and use their incentive to reduce the effective rent they pay over the full term. We see this regularly when talking to CBD tenants” K2 Private Director of Property – Stuart Moody said. read more

QLD: Office strata sale, 138 Albert Street, Brisbane

THE AUSTRALIAN - JULY 2013

FOUR levels of a strata office building in Brisbane’s CBD have sold to a Sydney-based private investor for $4.5m in the largest single strata transaction in the Brisbane CBD since February 2011. read more

Page 1234

Feature Article

K2 Private in the News – Pacific Square snapped up for $20.9m in Marquette value play

Financial Review website - by Matthew Cranston

The below is from an article on the Financial Review website by Matthew Cranston dated 12 October 2016, at 4:55pm:

‘Marquette Properties has purchased the Pacific Square retail complex near AMP Capital’s massive Pacific Fair Shopping Centre on the Gold Coast for $20.9 million.

The Pacific Square property, while serving as a strong income asset for its new owners, is also one of the largest development sites on the Gold Coast and could offer an ideal residential property play into the future.

The deal, which was brokered in an off market transaction through K2 Private’s Stuart Moody, represented a passing yield of 7.2 per cent.

The single level retail and office asset at Mermaid Beach has 7355 square metres of net lettable area on a site of 17,300 square metres with 240 carparks.

The asset is 100 per cent leased to tenants who have been at the centre for an average tenure of 10 years.

Tenants include the Queensland state government, Supercheap Auto and Snap Fitness.

Pacific Square is Marquette’s fourth retail acquisition in the last six months alongside the St Lucia Village in St Lucia, Brisbane, for $10.2 million, Festival Towers in Brisbane CBD for $22.7 million and Bushland Beach Plaza in Townsville for $5.5 million.

Marquette Properties’ managing director Toby Lewis said the new property would allow his team to add significant value in the future.

“As well as being a stable investment with a significant rental reversion, the asset has enormous future development upside,” Mr Lewis said.

“We believe the current day development value and replacement cost value exceed the investment value price we have acquired the asset for.

“The asset has excellent retail fundamentals and is consistent with our investment philosophy of buying assets that we can drastically change the value of and be a ‘pricemaker’ at exit.”

Mr Moody said the property, which is zoned for eight levels of residential, was a prized asset.

“We see it as an awesome investment because it’s one of the largest development plays on the Gold Coast,” he said.’

About K2 Private

K2 Private is a boutique commercial Real Estate Service provider focusing on the private owners in South East Queensland. We aim to bring a fully integrated Property Management, Accounting and Transaction Co Ordination service to the private families of Queensland. K2 Private is a wholly owned subsidiary of Keystone Private – Queensland’s leading Multi-Family Office.

 

For further details please contact :-

Stuart Moody

Director – Property

0421 323 051