Fortis buys Brisbane office for apartments
Fortis has bought an inner-city Brisbane office with plans to replace it with an apartment tower.
The 2386 square metre holding, 49-51 Doggett Street, Teneriffe, set it back $31.5 million following an off-market deal.
The vendor, Secure Zone, paid $22.85 million, settling in January, 2022.
At the time the modern two level, 2561sqm office with two car parks and a 5-star NABERS Energy rating had just been leased to Downer, which was paying $1.14m rent with fixed four per cent rises.
That rental agreement is set to expire next year.
Architect appointed
Fortis, co-led by Charles Mellick, has appointed Fraser & Partners to design a luxury residential based mixed-use project at Doggett St (continues below).
The land had previously been marketed for its potential to yield an eight-level building.
In 2016, an application was lodged for a 13-storey complex with 64 apartments.
It will be Sydney-based Fortis’ fifth Queensland project.
Its local portfolio also includes River House at Kangaroo Point, Crest & Walker at Newstead, Lynsford at Hamilton and Rosemont at New Farm.
Patona Property’s Sam Byrne marketed 49 Doggett St.
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