Knight Frank Australia is pleased to exclusively present to market 23 Graham Street, Milton. A dynamic Brisbane fringe office opportunity, positioned for growth in a vastly changing and in-demand precinct.
23 Graham Street is a rare dual property offering with two high quality commercial buildings on one title. The assets are underpinned by 100% occupancy to both ADCO Constructions and Bielby Holdings Queensland head offices, who have served a long-standing tenure in the buildings. ADCO, as a long-term owner of the property is offering these buildings for sale via a lease back at market rates, further enhancing the asset's underlying investment fundamentals.
23 Graham street's unique configuration presents the future potential to divide the assets on separate titles(STCA), facilitating the ability to capitalise on market opportunities or shifting priorities, while retaining ownership of the remaining building.
Spanning a substantial 3,743sqm* land holding, the two buildings provide a total net lettable area of 3,505 sqm* of quality office space, with the potential for future modernisation to capitalise on rental growth. Positioned to leverage Brisbane's ongoing growth trajectory, 23 Graham Street represents a prime opportunity for Investors or part-owner occupiers.
Highlights of this opportunity include:
- 100% leased with a net passing income of $1,732,973;
- The Brisbane Fringe market has demonstrated strong demand, reflected in positive net absorption, strong rental growth and lowering vacancy rates in recent years;
- Strong environmental credentials boasting a 5-star NABERS and 5-star BEEC rating;
- Situated 2km* west of the Brisbane CBD, 23 Graham Street enjoys exceptional connectivity to various transport hubs and impressive tenant amenity;
- The asset offers substantial potential for value-add initiatives, with its market lease rates presenting an opportunity for future income growth through rental adjustments, aligning with growing market benchmarks;
- The car parking facilities at building one and building two offer exceptional convenience, featuring a total of 69 bays, 47 bays for building one and 22 bays for building two (1:51 sqm*).
A 100% freehold interest in 23 Graham Street, Milton is offered for sale via Expression of Interest, closing 4PM (AEST) Thursday 12 June 2025.
