Permodalan Nasional Berhad, the Malaysian governments’ sovereign fund for investing in real estate assets purchased Santos Place in August 2010 for $287,000,000. This asset, developed by Nielson Properties on land previously acquired by our investment partners represented the largest post Global credit crisis property transaction in Brisbane, as well as the nations largest 6-star As-built rated building and is PNBs first Australian asset.

A traditional core fund style asset, Santos Place continues to strengthen in the market, being effectively 100% leased, and providing strong returns. Click here for a profile on Santos Place, or here to be directed to the building website.

Location 32 Turbot Street, Brisbane
Value $ 308 million
Lettable Area 35,400m2
Major Tenant Santos
Completion Date 2009

Santos Place, 32 Turbot Street, Brisbane – Owned by PNB

Property Description

Originally part of the current Nielson Properties development portfolio, the property was acquired in 2004 with a view to supplying commercial office accommodation into the strengthening Commercial CBD office market.

Constructed between 2007 and 2009 the building is anchored by Santos, Aurecon and Vincents Accountants. A sizeable portion of Brisbanes senior bar account for 5 floors of barrister chambers also in the building.

The building was sold to PNB in 2010. Nielson Properties continue to manage the asset on their behalf. 

With a 6 Star As Built Rating and currently a 5.5 star NABERS rating the building is recognised as a shining example of the new generation of high performance commercial towers.