Property giant Dexus has scooped up a prime Brisbane CBD property ripe for development with approval for a 274 metre skyscraper and is in talks with its Catholic Church neighbour to engage in a larger joint venture.
The off-market acquisition at 171 Edward Street, a retail building in Brisbane's Golden Triangle, is for more than $80 million, on a yield of under 5 per cent.
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Ingrid Fuary-Wagner is the AFR's explainer editor, based in Sydney. She previously wrote about property and before that was news editor at Domain. Connect with Ingrid on Twitter. Email Ingrid at ingrid.fuary-wagner@afr.com
