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Centuria Diversified Property Fund expands portfolio with third direct purchase of $65.4m Brisbane office

Sydney, 16 October 2019: Centuria today announced the purchase of 25 Montpelier Road, Bowen Hills, Queensland for $65.4 million. The A-grade office, purchased by Centuria Diversified Property Fund (CDPF, the Fund), is the third direct property purchase by CDPF this year, and will take the Fund’s total assets under management toward $200 million.

Bowen Hills is located on the fringe of the Brisbane CBD, and 25 Montpelier Road is within walking distance of the Bowen Hills train station, as well as the lively Gasworks precinct with its mix of popular restaurants, bars, shops and greenspaces. The property is 100% leased and has a 6.0-year weighted average lease expiry (WALE) (as at 1 December 2019). The property has approximately 7,000sqm of office space and an additional 700 sqm of ground floor retail.

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