88 Brandl Street
Project name: O'Connell's OBM House
Location: 26 Wharf Street, Brisbane
Project type: 12 storey office building in Brisbane CBD
Purchase Date: February 2010
Purchase Price: $8.0 million
Sale Date: April 2012
Sale Price: $12.25 million
Return to Investors: 34% ROE, 17% IRR
Harvest, together with investment partner, the Denison Group acquired a 12 storey office building in the Brisbane CBD. Harvest Property managed both the leasing and a refurbishment of the property. After all fund expenses and refurbishment costs, investors received a total return on investment of approximately 34% over a two year period.
