RF Corval has paid $20.5 million for a Newstead office.
The three level warehouse conversion at 33 Longland Street – known as The Limestore– contains 3000 square metres of contemporary area.
It came with a permit for a 1310 sqm extension.
The site spreads 1504 sqm, about three kilometres north east of Brisbane.
With a vacancy rate of 10pc, the market yield is c7.8pc, they added (story continues below).
RF Corval’s head of Transactions, Oliver Picone, said Newstead is one of the inner-city’s most affluent suburbs.
Its new building, the executive added, is one of the best workplaces in the area.
Elsewhere in Brisbane, the manager owns 365 MacArthur Avenue, Hamilton – overlooking the Royal Queensland Golf Course, near New Farm.
Last March RF Corval paid AUS Finance Group $75.5m for an unbuilt Collingwood, Melbourne, office at 71-93 Gipps St.