$25.5m acquisition of a 19-level tower<\/a> at 19 Grenfell St in 2025.<\/p>\nManaging director and co-founder Vaughan Hayne said the fund manager was attracted to Adelaide\u2019s \u201cstrong and diverse economy\u201d, adding that the capital raising had already generated a \u201cstrong initial uptake\u201d.<\/p>\n
\u201cWhen we completed our first acquisition in Adelaide\u2019s CBD in late January 2025, I said that it wouldn\u2019t be our last. Fast forward to 2026, and we\u2019re now seeing more investors looking to diversify away from residential property,\u201d he said. <\/p>\n
\u201cWhen complete, a second acquisition in Adelaide will add to Exceed Capital\u2019s current nationwide portfolio of 17 assets, which we\u2019ve successfully accumulated over the past decade of doing business.<\/p>\n
\u201cOur investment thesis has remained unchanged \u2013 buy well, manage actively and stay aligned with our investors. Adelaide certainly aligns with this approach, particularly given it has the highest employment growth of all Australian capital cities and long term demand for quality office space from the state\u2019s defence, technology and resources sectors.\u201d<\/p>\n
The 16-level tower features 10,217sq m of office space \u2013 currently 91 per cent leased \u2013 and 68 basement car spaces. <\/p>\n
Previous owner, Corval, undertook a $10.7m refurbishment of the building before its sale, including mechanical upgrades, improvements to lifts and bathrooms, lobby upgrades and new ground floor end-of-trip facilities.<\/p>\n
Mr Hayne said Exceed planned to establish a capital expenditure fund for remaining \u201cminor works and value-add opportunities, such as a courtyard plaza and future development parcel\u201d.<\/p>\n
The fund manager recently completed a multimillion-dollar refurbishment of its other Adelaide building on Grenfell St, including a new revamped lobby space.<\/p>\n
Exceed is promising investors 8 per cent annual returns for its latest purchase which is expected to settle in October.<\/p>\n
The deal was brokered by Knight Frank\u2019s Max Frohlich and Ryan Mills, and CBRE\u2019s Ian Thomas and Alistair Laycock.<\/p>\n","protected":false},"excerpt":{"rendered":"Brisbane-based Exceed Capital has struck a $50m deal to acquire an Adelaide office tower, and is looking to…\n","protected":false},"author":2,"featured_media":68827,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[36898,43720,90761,55325,90721,90718,90771,90754,90753,90727,33780,90763,90728,90711,6257,90724,90757,90731,41376,41128,90709,90726,90714,90738,90746,90733,90708,90772,90730,90770,90736,395,90741,47983,90748,90710,90768,90737,90767,90739,323,37292,82108,90713,90715,90742,22500,2077,90749,90759,90769,53679,38396,5957,90722,90719,90766,90756,90745,90716,90720,90764,90750,90747,90735,90740,90765,90762,90752,18101,90758,90744,90755,90732,90751,90723,2975,8766,90743,90734,90725,90729,36523,90712,90706,90707,46232,69855,37964,90760,90717],"class_list":["post-68826","post","type-post","status-publish","format-standard","has-post-thumbnail","category-adelaide","tag-tenants","tag-s-cbd","tag-s-current-nationwide-portfolio","tag-s-defence","tag-s-ian-thomas","tag-s-max-frohlich","tag-s-second-play","tag-36m","tag-50m-adelaide-office-purchase","tag-50m-cbd-tower-deal","tag-33780","tag-17-assets","tag-19-grenfell-st","tag-2025-managing-director","tag-6257","tag-217sq-m","tag-26-flinders-st","tag-68-basement-car-spaces","tag-41376","tag-41128","tag-a-strong-initial-uptake","tag-a-10-7m-refurbishment","tag-a-50m-deal","tag-a-50m-office-tower-deal","tag-a-19-level-tower","tag-a-brisbane-fund-manager","tag-a-capital-expenditure-fund","tag-a-courtyard-plaza","tag-a-multimillion-dollar-refurbishment","tag-a-new-revamped-lobby-space-exceed","tag-a-second-acquisition","tag-adelaide","tag-alistair-laycock","tag-all-australian-capital-cities","tag-an-adelaide-office-tower","tag-angas-securities","tag-asx-listed-transport-and-tourism-group-kelsian","tag-aussie-broadband","tag-bluescope-steel-it","tag-brisbane-based-exceed-capital","tag-business","tag-cash","tag-cbre","tag-cent-annual-returns","tag-cent-leased","tag-co-founder-vaughan-hayne","tag-corval","tag-economy","tag-exceed","tag-exceed-capital","tag-future-development-parcel","tag-grenfell-st","tag-improvements","tag-investors","tag-its-25-5m-acquisition","tag-its-latest-purchase","tag-its-other-adelaide-building","tag-its-sale","tag-knight-frank","tag-late-january-2025","tag-lifts-and-bathrooms","tag-lobby-upgrades","tag-long-term-demand","tag-mechanical-upgrades","tag-minor-works","tag-more-investors","tag-new-ground-floor-end-of-trip-facilities-mr-hayne","tag-new-trend","tag-october-the-deal","tag-office-space","tag-our-first-acquisition","tag-our-investment-thesis","tag-our-investors","tag-our-last","tag-previous-owner","tag-quality-office-space","tag-residential","tag-residential-property","tag-ryan-mills","tag-technology-and-resources-sectors","tag-the-16-level-tower","tag-the-adelaide-office-market","tag-the-building","tag-the-capital-raising","tag-the-fund-manager","tag-the-highest-employment-growth","tag-the-past-decade","tag-the-purchase","tag-the-state","tag-this-approach","tag-value-add-opportunities"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/68826","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=68826"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/68826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media\/68827"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media?parent=68826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/categories?post=68826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/tags?post=68826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}