Varsity Investment Fund
Varsity One
1 Lake Orr Drive,
Varsity Lakes QLD, 4227
Varsity One is an A-grade commercial office building with a total net lettable area of 6,066sqm and 197 car-parking spaces on a 7,916sqm site located at 1 Lake Orr Drive, Varsity Lakes, Queensland. The Property was built in 2008 and offers a range of accommodation options across 5 levels, in addition to providing views across Lake Orr, and in close proximity to Bond University. The property is occupied by a range of professional services firms as well as a number of medical and health related organisations.
The Property was sold in March 2025 for $31.5m.
The acquisition of Varsity One represented an opportunity to acquire (off-market) a well-located, A-grade office building, providing exposure to the strongly performing Gold Coast office market. The acquisition price provided Investors with strong risk-adjusted returns with the potential to add-value through active management and tenant re-mixing.
Upon divestment, the property was 100% occupied, up from an occupancy level of 88% at acquisition, and had an attractive WALE of over 3 years.
| Fund Status | Property Sold |
| Acquisition Price | $25.4m (March 2019) |
| Divestment Price | $31.5m (March 2025) |
| Investor Return on Equity | 61.0% p.a. ($1.00 invested = $1.61 returned) |
| Investor Internal Rate of Return | 9.9% p.a. (actual) 11.0% p.a. (forecast) |
