ISPT acquires CFA Headquarters
ISPT via our CIB Fund has acquired Country Fire Authority (CFA) headquarters in Burwood East, Vic. Located at 8 Lakeside Drive, the property is a standalone three-level office building of 4,552 sqm in Tally Ho Business Park, approximately 17 km east of the Melbourne CBD.
Georgina Bishop, ISPT CIB Fund & Sunsuper Australian Mandate Manager said,
“The acquisition of 8 Lakeside Drive, Burwood East aligns with the ISPT CIB Fund investment strategy to strengthen income security and tenancy profile. This is the Fund’s first acquisition in 20 years and our first step to growing the portfolio as its new investment manager, while creating enhanced value for our Investors.”
ISPT assumed trusteeship and management of CIB Fund in November 2020, formerly managed by Charter Hall. The Fund has a portfolio of Victorian law courts and police stations valued at circa $155 million as at 30 September 2021.