_Les Bubbles building in Brisbane’s Fortitude Valley up for sale

• The heritage-listed Les Bubbles building at 144 Wickham Street is being taken to the market with an Offers to Purchase campaign
• The property, which was built in the 1920s, gained some notoriety in the 1980s when it was named in Queensland’s Crime and Corruption Commission’s Fitzgerald Report
• It has been home to the iconic Les Bubbles restaurant since 1982, and serves as a landmark steakhouse to the surrounding near-city area
• The building has a total net lettable area of 543sq m on a 238sq m site, with Les Bubbles occupying 362sq m, with Bodycare Therapy Centre occupying the remaining 181sq m

Brisbane, Australia – THE HISTORIC Les Bubbles building in the heart of Brisbane’s Fortitude Valley is up for sale for the first time in four years.

The heritage-listed building at 144 Wickham Street, which was built in the 1920s, is fully leased with the major tenant being the Les Bubbles restaurant.

The building has a total net lettable area of 543sq m on a 238sq m site, with Les Bubbles occupying 362sq m and Bodycare Therapy Centre occupying the remaining 181sq m.

It is being taken to the market via an Offers to Purchase campaign run by Christian Sandstrom of Knight Frank on behalf of the vendor, Sunshine Coast developer Shaun and Sam Juniper.

The Les Bubbles building gained some notoriety in the 1980s when it was named in Queensland’s Crime and Corruption Commission’s Fitzgerald Report as the site of an illegal casino on the upper floor, and a brothel called Bubbles Bathhouse on the ground floor.

It has been home to the iconic Les Bubbles restaurant since 1982, and serves as a landmark steakhouse to the surrounding near-city area.

Mr Sandstrom said the Les Bubbles building was an iconic landmark situated in the heart of Fortitude Valley’s retail and entertainment precinct.

“Everyone in Brisbane knows this building – not only is it situated on a major Fortitude Valley thoroughfare, but it is engrained in Fortitude Valley history and growth over the past 100 years,” he said.

“Coming up for the sale for the first time in four years, it offers a rare investment opportunity in a prime location within the heart of Fortitude Valley, with easy access to surrounding business, transport, retail and entertainment amenity.

“The asset is primed to benefit from the continuous transformation of the Fortitude Valley precinct, with projects including the Valley Metro redevelopment and Cross River Rail.”

Mr Sandstrom said the property had a WALE of 1.05 years, but the long-term occupation of Les Bubbles demonstrated the security of the covenant.

“This major tenant is currently on a four-year lease, with two five-year options,” he said.

“There is the opportunity for an incoming investor purchaser to reconfigure tenancies, but we also expect interest from owner occupiers, with the property’s unique layout well-suited to a partial owner-occupier.”

The Offers to Purchase campaign for the property will close at 4pm on Thursday, December 1.

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For further information, please contact:

Vanessa De Groot – Marketing & Communications, Knight Frank

Vanessa.degroot@au.knightfrank.com +61 410 460211

Notes to Editors

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 16,000 people operating from 384 offices across 51 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the firm, please visit knightfrank.com.