Brisbane, 26 February 2015 – A private buyer has secured a $13.5 million foothold in the Gasworks precinct in a move that demonstrates the area’s continued appeal as Brisbane’s premier mixed use hub.
Located at 3 Montpelier Road on a 5,141sqm site, the two-level building comprises 3,393sqm of large format retail and commercial space.
The property is occupied be several established tenants including Reid Cycles, Viva, Jimmy Possum, Elevation Architects and Dune Outdoors Luxuries.
CBRE’s Darren Collins introduced the purchaser and managed the campaign in conjunction with fellow colleague Michael Platsis.
Mr Platsis said the Northern Territory-based buyer was attracted to the property’s prime location.
“The Gasworks is a property hotspot, with a number of businesses vying to secure a presence in the area,” Mr Platsis remarked.
“The precinct has evolved significantly over the past five years, with investors swooping on the area as they capitalise on its continued strength.”
Mr Collins said the property benefited from a high profile location on the busy Montpelier and Breakfast Creek roads intersection.
“The property’s appeal was further buoyed by its prominent position and outstanding exposure,” Mr Collins explained.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
