Brisbane, 9 July 2019: Johnson Winter & Slattery’s Real Estate team advised Harmony Property Investments on two major acquisitions in Brisbane, totalling $35.83 million in investments.
Harmony Property Investments acquired an industrial site at 1425 Boundary Road, Wacol, for $10.6 million and an office building at 8 Gardner Close, Milton, for $25.23 million. Both transactions completed in June.
Harmony Property Investments is an independent property advisory, investment and asset management company specialising in commercial property. Established in 2002, the company has steadily grown and now has more than $1 billion in assets and funds under management.
Harmony Property Investments purchased the Milton office building from Quintessential Equity following a multimillion-dollar upgrade, which included new end-of-trip facilities, as well as improvements to its lifts, lobby and services. The 4270 sq m building is fully leased and was acquired on a yield of 7.11 per cent. The Wacol industrial property was purchased from a local investor.
The Johnson Winter & Slattery team advising on this transaction was led by Partner David Colenso, assisted by Associate Alanie Joseph and Graduate Haerim Nam.
David Colenso said these transactions represent a positive outlook for Brisbane’s property market.
“The Brisbane market is attractive for clients like Harmony Property Investments and these two acquisitions point to a vote of confidence in the Brisbane office and industrial sectors.”
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About Johnson Winter & Slattery
Johnson Winter & Slattery (JWS) is a leading independent national Australian law firm. We advise major Australian and international corporations and investment funds on their most challenging transactions and disputes across Australia and surrounding regions. Our unique approach to resourcing means we can deliver more value to clients on their most complex legal issues with higher partner involvement from the start. A partnership ethos of service, technical excellence and collaboration ensures the most relevant specialist expertise and experience is brought to bear on every assignment.
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