50 Ann – Brisbane, Australia
Hines Research and local experts determined this asset was potentially undervalued. We targeted this office building in the central business district of Brisbane for renovation and improvement.
In the fourth quarter of 2021, Hines acquired 50 Ann, a fully leased office building in the legal precinct of Brisbane’s central business district with the intent to refurbish and enhance the workplace experience. This 25-story office building was approximately 275,000 square feet, and due to its close proximity to courts and in-place security measures, tenant renewal is very likely. We planned early, active engagement with tenants to identify areas for refurbishment and improvement to enhance the property and add value to the tenant and visitor experience.
So far, Hines has met all internal targets for redevelopment costs, expense efficiencies, and build dates. We expect to meet or exceed our increased revenue targets upon completion.
At a Glance
|BUILDING DETAILS||25,519 sqm, 25 floors|
|YEAR BUILT / RENOVATED||1977 / 1995|