Brisbane CBD retail building sells for $6.5 million

A freestanding retail building in Brisbane's CBD has sold to a Singaporean investor for $6.5 million.

The property, 105 Elizabeth building Street, is directly opposite the Myer Centre and was sold for $23,298 per square metre of NLA - a new Brisbane CBD record for retail assets outside of the Queen Street Mall according to sales agents CBRE.

The 279sqm building is situated on a site area of 516sqm and is fully tenanted.

CBRE’s Mike Walsh said six offers were submitted, including three overseas bids.

"What was interesting to note was the clear distinction between domestic and offshore pricing, with the average offshore bid being 10 percent higher than the average domestic bid,” he said.