Co-investment possibility available in world’s tallest timber tower

Lendlease has provided a first look inside the world’s tallest and largest engineered timber office building, 25 King, at Brisbane Showgrounds.

25 King includes extensive use of innovative and sustainable building materials – glue laminated timber structural beams and columns and cross laminated timber (CLT) floors – as well as state-of-the-art technology to deliver a true workplace of the future. 

Six of 25 King’s nine levels were completed in less than 12 months.

It is Lendlease’s fifth engineered timber building in Australia and one of several timber projects the company currently has underway across the country.

The building’s owner, ethical investment company, Impact Investment Group (IIG), is offering it as a co-investment opportunity for the building.

The pre-formed engineered timber construction means no waste and an energy saving of at least 40%.

IIG are looking forward to co-investing with new clients in the unlisted IIG unit trust that will own 25 King upon completion, which is targeting an internal rate of return of 11.1% a year. 

The Trust is also targeting a 7.4% average yield post-completion, with 100% tax deferral for at least three years post-completion. 

Global engineering firm Aurecon will occupy 43.5% of the net lettable area, with IIG joining with developer Lendlease to secure new tenants for the remaining office space.