The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
LESS THAN 30 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
4 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
RetailStaff WriterThu 10 Jul 14

Boutique Brisbane CBD Building Sells for $5.2m

S

A rare Brisbane CBD building positioned in the city’s tightly-held core precinct has been sold for $5.2 million.

The 95 Edward St property was sold by Michael Collins of Burgess Rawson and Peter Chapple of Savills on behalf of its private owner to owner occupier RT Health Fund.

The retail and office building was sold vacant possession, with the current ground-floor retailer remaining on a short-term leaseback.

Mr Collins of Burgess Rawson said 95 Edward Street presented a unique opportunity to purchase a prime Brisbane CBD asset in an outstanding location.

“The offering of CBD properties in the core precinct is extremely rare and highly sought-after by both investors and owner-occupiers,” he said.

“This property has been extensively refurbished and has a high-quality presentation to match its prominent position to provide a blue-chip CBD business presence.”

Mr Collins said 95 Edward Street occupies a high-profile position on the luxury Edward Street retail strip, in close proximity to major international brands such as Zegna, Hermes, Hugo Boss and Max Mara.

"Edward Street is now firmly established as Brisbane's premier luxury retail destination and this property is perfectly positioned to benefit from the growth of the precinct," he said.

Mr Chapple of Savills said the 95 Edward Street sale continues the renewed activity and confidence in the tightly-held sub-$10 million Brisbane CBD investment market, largely dominated by high net worth private investors.

Savills Research shows there has been a total of $653.84 million in commercial office sales (above $5 million) in the Brisbane CBD and Fringe for the 2014 year to date.

Mr Chapple said the Brisbane market is currently very tight for quality investment opportunities.

"It is rare for properties of the nature of 95 Edward Street to trade as they are normally held by high net worth owners that infrequently offer them for sale,” Mr Chapple said.

"Despite subdued leasing conditions, we are finding no shortage of buyers wanting to increase or establish their exposure to the Brisbane market. The yield differential in comparison to Sydney and Melbourne is compelling for investors.”

95 Edward Street has a total net lettable area of approximately 816 square metres and basement parking for six vehicles.

 

RetailOfficeAustraliaBrisbaneReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
View All >
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
Old Canberra Brickworks Yarralumla
Development

Doma Ready to Begin 380-Home ACT Brickworks Scheme

Leon Della Bosca
The City of Melbourne has opted to keep Greenline in the 2025-26 Budget.
Policy

Melbourne Budget Puts Paid to Greenline Future Fears

Marisa Wikramanayake
The Melbourne riverfront scheme has won funding for its next three stages—but the State must come to the party...
LATEST
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
3 Min
Old Canberra Brickworks Yarralumla
Development

Doma Ready to Begin 380-Home ACT Brickworks Scheme

Leon Della Bosca
4 Min
The City of Melbourne has opted to keep Greenline in the 2025-26 Budget.
Policy

Melbourne Budget Puts Paid to Greenline Future Fears

Marisa Wikramanayake
4 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/boutique-brisbane-cbd-building-sells-for-5-2m