A-Grade Brisbane CBD Office
The RAM 333 Ann Street Trust is an open-ended unit trust, it offers investors access to 333 Ann Street which is a 23-storey A-grade office tower in Brisbane’s CBD, just 150m from Central Station. Currently 81% occupied with a 2.6-year WALE by income#, the asset is well-positioned to benefit from major upcoming infrastructure projects, including Cross River Rail, Brisbane Metro, and the 2032 Olympic Games.
Stable cashflow with 81% occupancy and a
2.6 year weighted average lease expiry
(WALE). Fixed annual rent escalation further
insulates against inflationary pressures.
Pathway to 5.5 Stars Energy NABERs,
aligning with ESG-driven tenant demand
supported by on-floor and lobby upgrades
that justify tenant retention and rental growth.
Cyclical tailwinds, combined with tightening
Brisbane CBD vacancies, position the asset for
rental growth and capital appreciation as
investor sentiment improves.
A-Grade asset with strong tenant
covenants, growth catalysts and ESG
alignment. The property currently sits
~21% below replacement cost.
Brisbane’s office market has seen face and
effective rents surge by 20-25% since early
2023, positioning the asset for continued
growth. Near-term re-leasing opportunities
offer further upside.
Strategically located 150m from Brisbane
Central Station. The transport-centric
location ensures high tenant demand and
reduced vacancy risk.
| LOCATION | 333 Ann Street, Brisbane QLD 4000 |
|---|---|
| TARGET EQUITY RETURNS* | Targeting 15-16%* total return, with 7-8%* annual distribution |
| BORROWING | Targeted gearing of 55% LVR (max 60%) |
| TERM | Limited liquidity, with monthly distribution |
| FUND TYPE | Registered, open-ended unit trust |
|---|---|
| UNIT PRICING | Monthly |
| MINIMUM INVESTMENT | $50,000 |
| MINIMUM INVESTMENT HORIZON | 5 years |
| ARSN | 686 828 026 |
*Net of fees. #Figures as of 31st December 2024.
Investment returns are not guaranteed. Actual returns may differ from target returns for a range of factors including investment performance, taxation and indirect costs. Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the RAM 333 Ann Street Trust (ARSN 686 828 026). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT). The Investment Manager for the Fund is Real Asset Management Pty Ltd (ACN 162 123 408, AFSL No. 484263.) This material has been prepared by Real Asset Management Group to provide you with general information only. In preparing this material, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither Real Asset Management Group, Equity Trustees nor any of its related parties, their employees or directors, provide and warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the IM before making a decision about whether to invest in this product.
| Positioning | Gateway location in Brisbane’s CBD |
|---|---|
| Transport Trend | Growing tenant demand for properties with direct access to public transport |
| Proximity to Rail | 150m from Central Station – major transit hub serving 150,000 commuters daily |
| Future Connectivity | Proximity to upcoming Albert Street Cross River Rail station |
| Metro Access | 1-minute walk to new Brisbane Metro stops |
| Competitive Advantage | One of the few A-Grade office buildings with such proximity to major transit infrastructure |
| Nearby Amenities | Proximity to retail, dining and entertainment hubs including Queen Street Mall, Post Office Square, and Howard Smith Wharves |
| CATEGORY | GOAL | IMPACT |
|---|---|---|
 Lobby & EOT Upgrades
| Create market leading arrival experience through new ground-floor lobby and end-of-trip (EOT) facilities | Facilitate collaboration and connection with tenant customers in the lobby and a new, unique wellbeing experience downstairs to support higher rents in a competitive market |
 ESG Integration
| Target highly desirable 5.5 star NABERS energy rating and improvements to water rating | Elevates the building as a sustainability leader with large corporates and the government with strong sustainability mandates |
 On-Floor Enhancements
| Create a welcoming on-floor arrival experience for tenants and their customers | Improves tenant experience and retention. Supports the leasing experience and future rental growth |
 Active Management
| Manage 59%# near-term lease expiries, renew key tenants (e.g., Brighter Super), and re-lease vacated spaces at market rates | Capitalises on Brisbane’s strong leasing market, ensuring stability and growth |
 Leasing Outcomes
| Leverage flexible 867m² floorplates and high demand for quality, fitted out sub-1,000m² spaces | Maintains 99% occupancy, secures higher-paying tenants, and drives sustained cash flow growth |
Queensland’s extensive pipeline of infrastructure projects is poised to sustain and enhance the Brisbane office market leading up to the 2032 Brisbane Olympic Games.
This robust pipeline is expected to drive population growth, support employment expansion, and bolster economic rents.
Economic, demographic and social drivers continue to support the demand for Brisbane Office Real Estate
By 2032:
1. Queensland is expected to reach between 6-6.4 million people
2. Brisbane is projected to account for 50-51% of Queensland’s population
The Brisbane region is expected to experience the fastest growth in working-age population, increasing by 7.7%, outpacing the 4% average expected across major cities
$185 billion of expected statewide infrastructure spend by 2032.
Brisbane city alone has an expected $25 billion infrastructure pipeline including port, rail and airport expansions.
Brisbane’s Office market continues to outperform given its unique market dynamics
The Brisbane CBD stands out as one of the few global office markets maintaining record low vacancy rates. Strong economic performance and strong leasing demand have led to a decrease in vacancy levels from 15.5% to 7.5% over the past three years. As new supply remains limited, vacancy rates are expected to remain tight, particularly in Prime and A-Grade segments in a flight-to-quality trend.
The supply outlook for Brisbane CBD remains exceptionally constrained, with only three buildings expected to be completed by the end of 2028. The region, effectively landlocked and inflated construction costs have contributed to the restricted pipeline. This scarcity is likely to increase competition for quality space, reinforcing long-term rental growth trends.
Brisbane continues to outpace the APAC region, experiencing the strongest growth in net effective rents at 23.5% over the last three years. This upward trajectory is expected to persist, driven by a combination of tightening vacancy rates, limited new supply, and optimistic population growth projections. The ongoing demand for quality office spaces, coupled with these factors, positions Brisbane as a leader in the region.
Real Asset Management Pty Limited ACN 162 123 408 AFSL 484263
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