![\"The](\"https:\/\/www.europesays.com\/australia\/wp-content\/uploads\/2026\/07\/c707e4657c9f63bd13f5db6499cf8a0a0b093676-2233x1620.jpg\")
\u25b2 The sale price of 480 Queen Street is in line with the building\u2019s independent valuation as at June 30. <\/p>\nDexus has completed one of Brisbane\u2019s largest commercial property transactions of the year, agreeing to sell its 50 per cent interest in the premium-grade 480 Queen Street office tower as part of a deal valued at $700 million.<\/p>\n
The transaction is another significant step in the property group\u2019s capital recycling strategy as it reshapes its investment portfolio and strengthens its balance sheet.<\/p>\n
Under the agreement, Dexus and the Dexus Wholesale Property Fund will sell the landmark Brisbane 32-storey CBD asset for a gross price of $700 million.<\/p>\n
According to industry sources, US-based global alternative asset manager Barings was the buyer.<\/p>\n
JLL\u2019s Paul Noonan transacted the deal for Dexus.<\/p>\n
Dexus will receive net proceeds of approximately $657.3 million for its share after transaction costs and other adjustments.<\/p>\n
The sale price is in line with the building\u2019s independent valuation as at June 30 and is around 4 per cent below its December 31, 2025 book value.<\/p>\n
In Brisbane\u2019s prestigious Golden Triangle precinct, 480 Queen Street is regarded as one of the city’s premier office towers.<\/p>\n
The 32-level building provides more than 55,000sq m of premium office accommodation and is leased to a range of blue-chip tenants across the legal, financial and resources sectors.<\/p>\n
The sale reflects Dexus\u2019 broader strategy of recycling capital into higher-return opportunities while reducing gearing and enhancing financial flexibility.<\/p>\n
The company said the proceeds would support future investment across its diversified real estate platform while maintaining a strong presence in Brisbane through its remaining portfolio.<\/p>\n
\u25b2 The sale price of 480 Queen Street is in line with the building\u2019s independent valuation as at June 30. <\/p>\n
Meanwhile, Investa and the Investa Commercial Property Fund have agreed to acquire a portfolio of office assets from Dexus, including a 50 per cent interest in Brisbane\u2019s 123 Albert Street alongside a mandate partner.<\/p>\n
The transaction also includes Sydney\u2019s 30 The Bond and 36 Hickson Road at Barangaroo, with the Sydney assets to undergo repositioning and leasing programs aimed at capturing improving market conditions.<\/p>\n
The transaction highlights continued investor demand for premium office assets in Brisbane, where improving leasing conditions, limited new supply and strong population growth continue to support the commercial property market.<\/p>\n
The deal follows months of speculation after Dexus tested investor interest in the asset earlier this year.<\/p>\n
Dexus is one of Australia\u2019s largest listed real estate groups, with a $51.5 billion real estate portfolio under management across office, industrial, infrastructure and alternative assets.<\/p>\n
Industry analysts believe the successful sale demonstrates that high-quality CBD office buildings continue to attract significant institutional investment despite broader challenges facing Australia\u2019s office sector.<\/p>\n
For investors, the transaction reinforces Dexus\u2019 focus on disciplined capital management while providing additional liquidity to pursue future growth opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"Dexus has completed one of Brisbane\u2019s largest commercial property transactions of the year, agreeing to sell its 50…\n","protected":false},"author":2,"featured_media":61266,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3766,23,99,7065,3767,28985,3032,21611,6153,7900,212,3035,34950],"class_list":["post-61265","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brisbane","tag-asset-sale","tag-australia","tag-brisbane","tag-cbd","tag-deal","tag-finance-economics","tag-institutional-investment","tag-investment-activity","tag-market-dynamics","tag-office","tag-queensland","tag-real-estate","tag-valuations"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/61265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/comments?post=61265"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/61265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media\/61266"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media?parent=61265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/categories?post=61265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/tags?post=61265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}