Not for profits trade South Brisbane studio

St Vincent de Paul’s South Brisbane holding now spreads 1771 square metres.

Queensland Performing Arts Centre has sold a South Brisbane studio to the St Vincent de Paul Society, which has its headquarters next door.

The deal for 12 Merivale Street is worth $6.5 million.

The vendor paid $455,000 in 1999.

CBRE’s Darren Collins and Adelaide O’Brien were the agents.

Development upside

On a 921 square metre Principal Centre 1 zoned block, 12 Merivale St was marketed for its development upside; a structure of up to 20 levels could be considered.

Office, build-to-rent, hotel and aged care uses were suggested.

The existing two floor improvement contains 785 sqm of lettable area and six car parks.

St Vincent de Paul paid $1.55m for the neighbouring three storey building – 10 Merivale St – in 2000.

That property occupies 850 sqm.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of