Commercial building in Brisbane’s inner city sells following strong buyer demand

• The freestanding commercial asset has 419sq of high-quality office space on a 430sq m site, with onsite parking for up to 11 vehicles
• It was purchased by a local private investor following an Expressions of Interest campaign run by Knight Frank agents Hayden Ryan and Jacob Heinke, on behalf of Health Centre Property No 1 Pty Ltd

A freestanding commercial building in Brisbane’s Fortitude Valley, next to the city’s CBD, has sold following a competitive on-market Expressions of Interest campaign.

The property at 45 Amelia Street consists of a two-level office building providing 419sq m of high-quality office space on a 430sq m site, with onsite parking for up to 11 vehicles.

It was purchased for $3.9 million by a local private investor following an Expressions of Interest campaign run by Knight Frank agents Hayden Ryan and Jacob Heinke, on behalf of Health Centre Property No 1 Pty Ltd.

Mr Ryan said the property was a rare offering and attracted interest from a variety of buyers, including both owner-occupiers and investors from across the country.

“The on-market campaign yielded significant interest, drawing 87 enquiries and 16 inspections throughout the process,” he said.

“There were several written offers at close, with the property ultimately transacting a local private investor, Afgam Property, who are looking to add to their Brisbane holdings.

“Ultimately the campaign highlighted the current demand for freestanding commercial assets in Brisbane’s fringe, especially given the current lack of stock on the market.”

Mr Heinke said the Fortitude Valley property was in a sought-after position close to the Brisbane CBD.

“As city fringe office vacancies tighten closer to 10%, this sale reflects the pent up demand for quality office accommodation,” he said.

“As a result of extensive development in the surrounding area, Fortitude Valley has become one of Brisbane’s most popular business and retail hubs, granting exceptional amenity day and night.

“The suburb continues to benefit from public and private investment striving to secure a stronghold within this key growth corridor.”

Director of Agfam Property Stephen Gibson recognised the strategic location close to key surrounding amenity.

“The building’s advantageous city fringe position is ideal for a professional services firm in need of secure parking facilities,” he said.

He noted that the proximity to James Street and the Jubilee Hotel serves the requirements of both staff and clients well.

For more details contact agents Hayden Ryan and Jacob Heinke