Mirvac Group (ASX:MGR) has today announced that Financial Services Group, Suncorp is to be the major tenant for its proposed office development in Ann Street, Brisbane.
Under the deal the Asia Pacific core fund of M&G Real Estate, will be a 50 per cent joint venture partner in the project.
Suncorp has pre-committed to over 39 thousand square metres of office and retail space, representing around 66 per cent of the buildings total lettable area for a ten year term.
The total consideration for the 50 per cent interest of the completed development is $418 million.
Shares in Mirvac Group (ASX:MGR) are trading down 0.67 per cent to $2.21.