247 Adelaide Street represents a rare opportunity to acquire a freehold, extensively refurbished 7-storey office building in the heart of Brisbanes Golden Triangle financial precinct.
As one of two privately held assets in the CBD block bounded by Adelaide, Creek, Queen and Edward Streets, 247 Adelaide Street is surrounded by institutional owners and enjoys the public open space amenity of both Post Office and ANZAC Squares and Gresham Lane.
The key details are as follows:
3,012m²* Net Lettable Area
Estimated fully leased net income $1.285m* p.a. plus GST
85.0%* occupancy as at 1 June 2019
Over $2m* in CapEx by current owners
32.5%* of income expiring beyond 5 years
3.5 Star NABERS (Energy)
Award winning upgrade program to base building services
Anchored by Bendigo Bank
Outstanding retail, F&B, public transport amenity in close proximity
There is currently $46B* of infrastructure under construction in South-East Queensland, driving the Brisbane office market into the growth phase of the leasing cycle.
247 Adelaide Street will be a direct beneficiary of Brisbane City Councils Adelaide Street Vision Priority Project, which will see greater activation of the streetscape at the property boundary through widened footpaths, more pedestrian crossings and planting of mature trees.
With core located CBD office assets being tightly held, 247 Adelaide Street represents an opportunity to secure an intergenerational investment in the heart of Australias fastest growing office market.
247 Adelaide Street is offered for sale by Offers to Purchase.
*Approximate
