Brisbane, 23 June 2016 – A Brisbane-based investor has secured a foothold in the thriving Brisbane city hub of Fortitude Valley for $4.3 million.
CBRE’s Michael Platsis and Darren Collins negotiated the sale of the 1,091sqm site at 95 Robertson Street to a local investor, with the transaction representing a land rate of $3,934sqm.
The site, which currently comprises a quality office/warehouse building tenanted by JC Decaux, offers significant scope for future redevelopment.
Mr Platsis said the property’s development potential, as well as strong holding income were key factors underpinning the sale.
“This property represented an attractive investment opportunity in a prime pocket of the Brisbane CBD, offering both significant scope for future development in addition to immediate security from the current lease,” Mr Platsis explained.
“With a number of projects already being undertaken in the James Street precinct, this area continues to cement its position as an attractive investment destination from a mixed use/residential standpoint.”
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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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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.