I assume from this PB, that they are both the Seller and the intended Tenant.
If that is the case, I wouldn't touch it with a barge pole.....
Absolutely agree.
Though not 100% sure if they own it, or are making it a condition of a new lease.
Either way the result is the same.
The Quantas HQ is being marketed as the "star" of the portfolio, not the performer of it. Which means much glory, but no money.
Years ago I tagged along a few others looking at buying some big warehouse retailer type buildings in fairly newly developed areas.
I was a little naive at the time and though they were ok.
They read the lease took a look around, once glance at each other, and thanked them for their time to show'em around.
The situation was simple.
They (Big retailer) decided where they wanted a (huge) store.
They bought the land, built their store, which in turn made the rest more valuable as they are "anchors" and sold it off to others either to built or already built.
Once it was built up, then their own property was worth a little more, so they write there own lease the way they like it, and put the place up for sale with something that looks nice like a 10+5+5 lease.