QIC Could Purchase 50% of Queensland’s Property Portfolio
In Australia, the government of Queensland has fifteen real estate properties worth around A$ 2 billion. The state government is looking to sell some properties. The Queensland Investment Corporation (QIC) seems to be a likely buyer of 50% of the state’s real estate portfolio through a newly created fund.
Some properties include:
- 111 George Street
- 33 Charlotte Street
- 80 George Street
- Mineral House at 41 George Street
- Neville Bonner Building at 75 William Street
Increasingly, institutional investors are allocating money towards Australian retail and office properties, including redevelopment projects.