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CIMIC set to develop and sell KSD 2, the final jewel in the Hamilton Harbour development

Jessica Freeman • 15/09/2022

CIMIC SET TO DEVELOP AND SELL KSD 2, THE FINAL JEWEL IN THE HAMILTON HARBOUR DEVELOPMENT

The fifth and final portion of the Hamilton Harbour development, located just 14 mins from the Brisbane CBD has hit the market with an end value estimated to be in excess of $160 million.

For sale exclusively through Mike Walsh, Peter Court and Frederic Le Fanue of Cushman & Wakefield on behalf of CIMIC, KSD 2, located at 12 Hercules Street and 485 Kingsford Smith Drive, Hamilton Harbour is set to be highly sought after in the market; with an unrivalled international tenant covenant and is just 5 km to the Airport and 5.5 km to the CBD.

According to Mike Walsh of Cushman & Wakefield, “This brand-new office tower located in one of Inner-Brisbane’s most exciting and promising urban renewal precincts, offers a proxy for exposure to bond-like inflation protected income security, with the lease underpinned by CIMIC Group Operating Companies for at least 10 years post practical completion in 2026.

The 14-storey, state of the art 14,307 sqm commercial office tower has been designed by Cox Architecture and being a brand-new build, will ensure exceptional depreciation benefits enhancing after tax returns along with best-in-class green credentials.

Peter Court of Cushman & Wakefield said, “Brisbane is experiencing a major growth phase underpinned by historic interstate migration, 107k+ jobs created since March 2020 and generational infrastructure investment including the Airport runway duplication and preparation for the 2032 Brisbane Olympics.”

CIMIC explained KSD2 is the last remaining site in its Hamilton Harbour development, which already includes over 600 residential apartments, a 5- level commercial building and a significant offering of retail space which includes medical, dental, food and beverage and a ‘Woolworths Metro’ supermarket.

CIMIC believe now is the time to create a prominent entry point to the entire North Shore master planned precinct with a gateway building that will afford its tenants with stunning views in nearly all directions and excellent amenity.

The property is being offered for sale on a fund through basis via International Expressions of Interest closing 4pm (AEST) 20 October 2022.

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