Parliament Square a key growth asset in Spirit Super’s heartland
Spirit Super members have a new asset working for their retirement, with the Parliament Square acquisition now complete. This is Tasmania’s largest ever property transaction by value, and a vote of confidence by Spirit Super in the economic potential of this landmark development in the heart of Hobart.
Spirit Super Chair Naomi Edwards said “We are delighted to have purchased such a high-quality asset in a State with our largest number of members. Tasmania is a critical part of the Spirit Super story with 109,900 members (as at 13 December 2021) in the State. This development will not only yield income and capital growth for our members’ retirement, but will become a much-loved destination that all members will be able to visit and enjoy.”
Overlooking Hobart’s Sullivan’s Cove and Franklin Wharf, the project features six elements including a FJMT-designed office component of approximately 17,300 sqm, which is connected to Parliament House and leased to the Tasmanian State Government until late 2037.
Also included in the sale is the Marriott Group-managed Tasman Hotel, which opens today. The hotel features 152 luxury rooms, styled by acclaimed interior designer Joseph Pang of JPDC and comprises three Food and beverage locations, luxury amenities and meeting rooms.
Spirit Super Chief Investment Officer, Ross Barry said “Spirit Super are proud owners of Hobart’s newest and most exciting property development. Parliament Square is underpinned by strong long-term leases and will deliver enduring benefits to members right here in our own backyard and all across Australia. It’s great to be investing member funds back into their own community and to see the creation of over 100 jobs.”
Spirit Super is represented at today’s launch event by Chair Naomi Edwards.
About Spirit Super
Spirit Super has approximately $26 billion funds under management and over 325,000 members Australia-wide (as at 30 June 2021). In addition, we’re the trusted super provider for over 70,000 Australian employers (as at 19 August 2021). Formed from the merger of Tasplan and MTAA Super Spirit Super backs hard-working Australians with support they can count on, low fees and a history of strong returns.
Motor Trades Association of Australia Superannuation Fund Pty Ltd (ABN 14 008 650 628, AFSL 238718) is the trustee of Spirit Super (ABN 74 559 365 913) and issues interests in Spirit Super. You should consider the Product disclosure statement and Target market determinations available at spiritsuper.com.au/pds or by calling 1800 005 166 before deciding if the fund is appropriate for you. Past performance isn’t a reliable indicator of future performance.
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