RT Health banks $7.15m from vacant Brisbane CBD office

The Edward Street building, with 1063 square metres of lettable area, rises four levels at the rear.

RT Health has sold a renovated heritage commercial asset in Brisbane’s financial precinct.

The purchaser, an investor, is paying $7.15 million – a building rate of $6726 per square metre.

The vacant four storey property, 95-97 Edward Street, is within the CBD’s Golden Triangle.

Some 22 per cent of the 1063 sqm of lettable area could be configured as retail according to CBRE selling agents Andrew Adnam and Jack Morrison.

The balance can stay offices and rent for about $625 per sqm per annum, they added (story continues below).

Last August RT Health sold Eveleigh House in Sydney’s Surry Hills for $33.53 million – well over the c$20m expectation.

The property was also promoted to owner occupiers – a recent capital work program making it Persons With Disability compliant and allowing for immediate occupation.

It is about 250 metres from the Cross River Rail Albert St depot, which is under construction, and twice that distance to Central Station.

Settlement occurred in August following an expressions of interest campaign which closed in late June.

Fifteen months ago the not-for-profit sold Eveleigh House, a four level, 1696 sqm office it part occupies in Sydney’s inner south Surry Hills, for $33.53m – well over the $20m expectation – to a Chinese investor represented by Centennial Property Group.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.