Landmark Brisbane heritage office asset offered to the market

Brisbane, Australia – One of Brisbane CBD's most iconic heritage office buildings, 200 Adelaide Street, is being taken to the market.

The six-level landmark office building occupies a prominent corner position at the intersection of Adelaide and Edward Streets neighbouring Anzac Square, and has stood as a defining feature of Brisbane's CBD for almost a century.

The property, which was built in 1931, comprises approximately 6,034sq m of net lettable area with 22 car parks.

It is currently 90.3% occupied, with a net passing income of $3.6 million per annum and a WALE of 4.2 years.

The property is anchored by Hub Australia, Australia's largest privately owned flexible workspace operator, which occupies 4,815sq m across four levels and the rooftop terrace on a lease through to August 2031, with two further five-year options.

200 Adelaide Street is being offered for sale via an Expressions of Interest campaign managed jointly by Knight Frank agents Justin Bond, Matt Barker and Blake Goddard and JLL agents Paul Noonan and Jack Sullivan on behalf of the vendor, LDR Capital.

Mr Bond said 200 Adelaide Street represented one of the most compelling heritage office investment opportunities currently available in Brisbane.

"Opportunities to acquire institutional-grade heritage office assets of this scale and prominence in Brisbane CBD are exceptionally rare," he said.

"Positioned next to Anzac Square and directly connected to Brisbane Central Station, 200 Adelaide Street combines an irreplaceable heritage character with secure income, strong tenancy covenants and exceptional connectivity.

"The asset benefits from a high-quality income profile anchored by Hub Australia, while also providing leasing and rental reversion opportunities that will appeal to a broad range of private investors, syndicators and family offices."

Mr Noonan said the offering aligned strongly with investor demand for well-located assets that could benefit from Brisbane's economic growth and transformation ahead of the 2032 Olympic Games.

"Brisbane continues to outperform many Australian markets, supported by strong population growth, a rapidly expanding CBD workforce and a record infrastructure pipeline," he said.

"200 Adelaide Street is ideally positioned to capitalise on this growth trajectory given its strategic CBD location, direct transport connectivity and proximity to key commercial, retail and lifestyle amenity.

"In addition to its secure holding income, investors will be attracted to the building's future rental growth potential, sustainability credentials and the scarcity associated with owning one of Brisbane's genuinely irreplaceable heritage assets."

The building has benefited from recent capital investment, achieving a 5.5-Star NABERS Energy rating that places the asset amongst Brisbane’s leading character office buildings and enhances its appeal to ESG-focused occupiers and investors.

Situated directly above Brisbane's primary transport interchange, the property offers immediate access to Central Station, major bus services, retail amenity and the rapidly evolving CBD precinct.

The Expressions of Interest campaign for 200 Adelaide Street will close at 4pm (AEST) on Thursday, October 22.

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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, the Knight Frank network has 600+ offices across more than 50 territories and more than 20,000 people. 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 www.knightfrank.com.