City of Brisbane list commercial office building at Yeerongpilly

City of Brisbane list commercial office building at Yeerongpilly
City of Brisbane list commercial office building at Yeerongpilly

A three-storey, A-grade commercial office building at Yeerongpilly has been listed by the City of Brisbane Investment Corporation (CBIC).

The purpose-built site at 665 Fairfield Road was constructed in 2012 for the Brisbane City Council.

The site has 4,198 square metres of net lettable areas across three levels and 71 car spaces.

It is being sold fully leased with a WALE of eight years, and a further two x five-year options to extend.

Cushman & Wakefield’s Joint Heads of Middle Markets QLD, Mike Walsh and Peter Court along with Nick Spiro, and Savills’ Peter Chapple and Gregory Woods will manage the on-market expressions of interest campaign, due to commence on 1 April, 2019.

It is significant opportunity for investors to secure a high-quality office building, said Mike Walsh, Joint Head of Middle Markets QLD, Cushman & Wakefield.

“Located in an affluent and growing inner-city area, the property is also poised to benefit from major surrounding development activity,” Walsh said.

“This includes Consolidated Properties’ $850 million Yeerongpilly Green project which will include a Woolworths-anchored shopping hub and more than 55,000 square metres of commercial space.”

Strong demand from local and offshore investors is expected, said Peter Court, Joint Head of Middle Markets QLD, Cushman & Wakefield. 

“Overall, the fundamentals of the Brisbane market remain positive and we continue to see aggressive appetite for well positioned commercial building with yields continuing to compress in testing cyclical lows.”

Peter Chapple, State Director, Capital Transaction, Savills, said: “With the site 100% leased to the Brisbane City Council it will attract interest from all interest from all investor types active in the Australian market.”

Tags: 
Brisbane Yeeroogpilly

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