Hour Glass to acquire Brisbane property for $30 mil

The property is an eight-storey retail and commercial office building, which sits on a site area of approximating 455 sqm.

Located within the main luxury retail precinct in the heart of Brisbane’s central business district, it has a gross lettable area of 2,521 sqm.

The Hour Glass says the proposed acquisition will strengthen the group’s retail footprint in Australia.

Shares in The Hour Glass closed 3 cents higher, or up 3.8%, at 82.5 cents on Thursday.

Read also:

• The Hour Glass makes foray into New Zealand with acquisition of Mansors Jewellers, two retail and commercial properties
• The Hour Glass to acquire 2 New Zealand office buildings for $54 mil
• Crown Group to launch first Brisbane project in 2020