Fringe Office Sold for $2.625m in Tightly Held Fortitude Valley Precinct

24 October 2017

A two story Fortitude Valley commercial office has sold for $2,625,000 to a local private investor.

Located at 141 Robertson Street, the property sits on a 546sq m site and was sold by Savills Capital Transactions agents Jack Morrison and Nick Russell during a formal marketing campaign which resulted in over 150 enquiries.

The freestanding office complex features 660sq m of floor area spanning over two storeys, and holds a prominent position, situated within roughly a 120m walk from the heart of the James Street retail precinct.

Mr Morrison said they fielded more than 10 offers from buyers interested in the property, which was eventually snapped up by a local private investor who has appointed Apollo Property Group to refurbish the property.

“It is a fantastic property in one of the most tightly held and highly sought after precincts in the Brisbane City Fringe and the interest during the campaign reflected this.

“We received huge enquiry, testament to the calibre of the location and a representation of the scarcity of quality stock available to purchase in the area,” Mr Morrison said.

The James Street retail precinct continues to build momentum, with the opening of the second freestanding David Jones store in Australia, and the current construction of the high end boutique hotel, The Calile.

“The property sparked a huge level of interest from owner occupiers and investors, but ultimately we had to find the right purchaser who could see the property for its potential after refurbishment, and was willing to conduct the necessary restoration works,” Mr Russell said.

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Key Contacts

Jack Morrison

Jack Morrison

Associate Director
Capital Transactions

Brisbane

+61 (0) 7 3002 8889