MEX founder sells swank Brisbane office
EXCLUSIVE
Nine months since selling MEX Maintenance Software to Silversmith Capital Partners, Steven Ninnes has sold its headquarters.
The executive is banking $12.75 million for the warehouse converted office at 64 Commercial Road, Newstead.
Also home to Bloom Australia and Vegas Fashion Industries, the three level building contains 1530 square metres – rated Premium grade – and 16 car parks.
The top floor is configured as a three bedroom apartment.
On 956 sqm at the north west corner of Masters Street, the property is one of five “character buildings” identified in the Commercial Road Precinct, in the local precinct structure plan.
Another Newstead deal
Mr Ninnes paid $6.641m for 64 Commercial Road in 2016 then renovated.
He was represented for the sale by Patona Property’s Sam Byrne and Jordan George, who closed an expressions of interest campaign June 8.
The incoming owner is a local private investor.
Elsewhere in the suburb, this quarter Mirvac sold a permit-ready apartment site to Don O’Rorke’s Consolidated Properties while Fortis snapped up an ex-aged care home, also with plans for residential.
Last year meanwhile, the HIA bought a five year old office at 17 Byres St, Newstead, from Australian Unity.
Boston based Silversmith paid c$125m for MEX which Mr Ninnes established in 1993.
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