Melbourne-based company Quintessential Equity buys third Canberra office building – The Canberra Times – 5 March 2015
Melbourne-based Quintessential Equity has purchased its third Canberra office building in the past 12 months.
The boutique unlisted property fund manager has paid $32 million for 44 Sydney Avenue in Forrest.
The latest purchase follows the company’s decision to buy numbers 10 and 14 Moore Street in the city in June last year.
Quintessential Equity director Shane Quinn said the company had decided to continue to invest in the underperforming Canberra market because the situation would eventually improve.
He said the city was unloved in the office investment market due to the cutbacks to government departments, and that enabled the company to purchase the Forrest building.