South Central Commercial, a 3,035sqm fully leased premium investment in South Brisbane, is likely to attract a range of private and institutional investors once it is released to market next week.
Brisbane inner south office vacancy which incorporates South Brisbane is one of the tightest markets in Australia, currently assessed at 6 per cent.
Tom Phipps, Guy Stafford and Philip O’Dwyer from Colliers International are exclusively marketing the retail and office component for sale on behalf of Hudpac Corporation Pty Ltd. The Brisbane based development company completed the contemporary mixed used development at 43 Peel Street in 2008.
Mr Phipps said the fully tenanted asset has a strong leasing history with the office component accommodating ten tenants and retail component two tenants.
“This outstanding investment opportunity in Brisbane’s best performing office precinct offers secure income stream with staggered lease expiries, underpinned by a list of blue chip tenants.”
According to Mr O’Dwyer the property would appeal to a range of syndicators, private and institutional investors looking for fully tenanted commercial investments in the circa $20 million range.
“In the last two years commercial space in South Brisbane has become scarce due to a significant redevelopment of commercial sites for high density residential projects. Therefore assets of this nature will attract higher investment premiums in the future due to their strong income streams and revenue growth potential.
“This is becoming more evident as the Brisbane commercial property market follows an anticipated recovery in vacancy, incentives and rental levels.”
Mr Stafford said the building offers excellent natural light to all floors and features 27 car parks.
“To discuss property in more detail or register your interest contact Colliers International today. The Expressions of Interest campaign closes 28 October 2015.”
Information supplied by Colliers International