Vacant Brisbane office trades for $38m
A vacant South Brisbane office opposite the Mater precinct, previously operating as a specialised medical facility, has traded between private investors.
The five-level complex at 140 Melbourne Street, at the corner of Cordelia, collected $38 million.
A significant renovation is planned for the already modernised building.
Retail amenity targeting high-end businesses will also be added.
Colliers’ Bo Veivers and Patryk Koch are managing the leasing campaign.
Revamp planned
The Melbourne St office contains 3744 square metres of net lettable area; a recent revamp upgraded the façade, lobby and end-of-trip facilities.
With a Class 9a certification, there are three operating, a PC2 laboratory, procedure and consultation rooms and recovery and discharge areas
The offices are fit out with workstations, around multiple break-out areas (continues below).
There are also boardrooms a library and auditorium.
The 1816 sqm PC1 zoned site contains an ambulance bay (continues below).
Another South Brisbane deal
The office is walking distance to South Brisbane station and the Fish Lane dining precinct.
Gard Property’s Michael Gard and Andrew Gard were the agents with JLL’s Elliott O’Shea and Seb Turnbull.
Last week realestatesource.com.au reported 39 Russell St in the suburb sold to developer Skyhold.
Gold Coast builder Sherpa also bought a site in the suburb – on Cordelia St.
That seller was Greenfort Capital with Canada’s BGO (BentallGreenOak) and Switzerland’s Partners Group.
They paid $19m in 2021 with plans for a 30 level build to rent investment.
In June, Stockwell, led by Olympic swimmers Mark Stockwell and wife Tracy, nee Caulkins, acquired the piece of the ex-Paul’s Milk factory that they it control.
An integrated multi-tower mixed-use based project is expected for that five hectare amalgamation, part of which abuts Brisbane River.
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