It is considered the biggest office asset for sale in the past year, and will attract the attention of Australian super funds, property trusts and investors, according to the selling agents at CBRE and JLL. It will overshadow the recent $555 million sale of 52 Martin Place in Sydney to REST Super.

The 60,000 square metre building is home to a number of tenants, including the Commonwealth parliamentary offices, and is deemed non-core for the sellers. Stockland, which last week made $80 million on the sale of its stake in Australand, has been touted as a buyer of the Leighton Properties' assets.

Stockland, which is selling its part of the Brisbane office, would get firepower for acquisitions, according to analysts.

A Stockland spokesman said the group has chosen to list for sale its interest in the Waterfront Place office tower in Brisbane, in line with its strategy to selectively down-weight its exposure to office and recycle capital into other accretive opportunities involving Retail, Business Parks and Logistics properties.

Stockland has worked in close consultation with its joint venture partner, the Future Fund, resulting in an agreement to market the entire 100 per cent interest in the property for sale.

CBRE senior managing director, Queensland, Bruce Baker said there was ''significant pent-up demand from both offshore and onshore groups for office investment opportunities''.

''The Brisbane investment market was continuing to attract an increasing number of international investors, as highlighted by recent major transaction, including the first acquisitions in Australia by groups such as Union Investment at Southpoint, Credit Suisse at Elizabeth Street and PNB’s acquisition of Santos House,'' Mr Baker said.

JLL’s Queensland managing director Geoff McIntyre said the building offers the largest floor plates within Brisbane’s Golden Triangle which range in size from 1,792sqm to 1,868sqm.