Not for profit buys South Brisbane office
Micah Projects has bought a South Brisbane office building.
The not-for-profit outlaid $9,500,854 for 6 Cordelia Street.
On 911 square metres it contains a two level office with 1159 sqm and 20 car parks.
The seller was Asia Pacific Network Information Centre, or APNIC, which paid $4.95m in 2009, settling the year later, then moving in.
The property sits within the South Brisbane precinct, close to South Brisbane railway station, the Brisbane Convention and Exhibition Centre and the South Bank precinct.
$8000 per sqm
The result prices the land at $8197 per sqm.
CBRE’s Nick Wedge and Jack Morrson with Chesters Real Estate’s Tim Jones were the agents (continues below).
Micah Projects plans to use the building as a base for free health and social support services; the organisation provides housing, homelessness, health, disability and other community services across Brisbane.
“For more than 30 years, Micah Projects has been committed to supporting people experiencing adversity, exclusion, and injustice in our community,” Micah Projects acting chief executive Bridget Kinch said.
“This development is guided by a clear vision: to create a welcoming, inclusive place where people can access care, support, and connection with dignity and respect, according to the executive.
Mr Wedge added standalone buildings with vacant possession in South Brisbane were rare, while Chesters’ Tim Jones said the precinct continued to attract owner-occupiers.
This pocket of the suburb is about a kilometre from the CBD.
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