Building leased to council in Queensland's Logan City fetches $3.85 million

An office building in Queensland’s Logan City with major tenant as the city council has sold for $3.85 million.

‘The Exchange’ at 106 City Road, Beenleigh was put up for sale via expressions of interest earlier this year. 

The deal was brokered by Tania Moore and Mark Witheriff of Knight Frank along with RM Realty.  

The seven-level office building is a “landmark asset” in the Beenleigh CBD, according to the property’s description.

Located on the eastern side of City Road, it is a short freeway-drive to Brisbane or the Gold Coast. 

The building has a net passing income $290,136 pa. 

The net lettable area is 1,695 sqm.