The LDR Grey Street Fund is a single-asset wholesale opportunity to own 275 Grey Street, South Brisbane (Southpoint), home to the global headquarters of ASX-listed Flight Centre and Virgin Australia. Register your interest before the general offer closes on 17 July 2026.
For wholesale clients only. Register in under a minute and our team will confirm your eligibility as a wholesale client and provide the Information Memorandum.
🔒 Your details stay private. General advice only, not personal advice.
Target return profile
Targets over the initial 5-year hold period for the LDR Grey Street Fund. Targets are not guaranteed and are not a forecast or promise of future performance.
† Targets and forecasts only. Not guaranteed, and not a forecast or promise of future performance. Returns are subject to risk, including possible loss of capital. Any reference to future performance is based on assumptions that may not occur. Full details, including risks and assumptions, are set out in the Information Memorandum.
275 Grey Street • Southpoint • South Brisbane
Built in 2016, Southpoint has direct undercover access to South Bank Station, panoramic river and CBD views, and world-class amenity, one of only four office buildings in the tightly held Grey Street precinct.
Why investors are taking notice
275 Grey Street (Southpoint) is the newest and largest tower in the tightly held Grey Street precinct, one of only four office buildings in South Bank.
Built in 2016, Southpoint is the newest and largest tower in the Grey Street precinct, with direct undercover access to South Bank Station and panoramic river and CBD views.
The Grey Street precinct has averaged just 2.8% vacancy over the past three years, versus 11.7% for Brisbane Near City and 10.8% for the CBD.
Acquired on an 8.0% cap rate, ~125bps wider than the 10-year Near City prime average, with economic rents now ~47% above current passing rents.
100% leased to ASX-listed Flight Centre and Virgin Australia, which together account for ~85% of income on an 8.4-year office WALE.
The Lederer Group is committing a minimum $35 million (≥25%) co-investment, ensuring strong alignment throughout the life of the Fund.
Underpinned by Queensland’s ~$116.8bn infrastructure pipeline, the 2032 Olympic Games and the Cross River Rail line (operational 2029).
Inside Southpoint
A prime-grade workplace with the amenity that keeps blue-chip tenants in place.
The location
Underpinned by Queensland’s ~$116.8bn infrastructure pipeline, the 2032 Olympic Games and sustained interstate migration.
Brisbane’s premier mixed-use precinct, with direct undercover access to South Bank Station connecting to Cross River Rail.
Direct cross-river access to the CBD, world-class amenity and destination parklands controlled by South Bank Corporation.
Anchored by two ASX-200 tenants
Southpoint is the global headquarters of Flight Centre and Virgin Australia, which together account for ~85% of Fund income on an 8.4-year office WALE.
ASX-listed global travel group, headquartered at Southpoint on a long-dated lease.
ASX-listed airline, headquartered at Southpoint, with material rent reversion potential at expiry.
Leading and aligned
The Fund is managed by LDR Capital, the Lederer Group’s real estate arm, and issued by Evolution Trustees as trustee.
LDR Capital manages approximately $1.6bn in real estate on behalf of the Lederer Group and like-minded investors. The LDR Grey Street Fund is its second wholesale fund. Founder & Chairman Paul Lederer is committing a minimum $35 million (≥25%) alongside investors. LDR Capital Pty Ltd (ACN 684 831 196) is a Corporate Authorised Representative (CAR No. 001318246).
Evolution Trustees (ACN 611 839 519) is the issuer of units in the Fund and holds an Australian Financial Services Licence authorising it to operate managed investment schemes. It provides fiduciary services to major domestic and international institutions, supervising over 200 trusts and schemes with funds under supervision exceeding $25 billion.
Investor briefing
A short briefing on the asset, the South Bank market and the investment case for the LDR Grey Street Fund.
Watch on YouTube
The offer at a glance
The Fund is an unregistered wholesale managed investment scheme. Applications can only be made in accordance with the Information Memorandum.
General offer opens Tuesday 23 June 2026 and closes Friday 17 July 2026. Allocations confirmed 20 July 2026; first distribution expected late October 2026. Applications can only be made in accordance with the Information Memorandum, available to eligible wholesale clients on request. Register your interest to receive it. General advice only, not personal advice.
Register your interest and our team will confirm your eligibility as a wholesale client and provide the Information Memorandum. Register early to secure your allocation.
For wholesale clients only. General advice only, not personal advice. An investment in the Fund carries risk, including possible loss of capital. Applications can only be made in accordance with the Information Memorandum.