logo redirect pin user minus plus fax mobile-phone office-phone data envelope globe outlook retail close line-arrow-down solid-triangle-down facebook globe2 google hamburger line-arrow-left solid-triangle-left linkedin wechat play-btn line-arrow-right arrow-right solid-triangle-right search twitter line-arrow-up solid-triangle-up calendar globe-americas globe-apac globe-emea external-link music picture paper pictures play gallery download rss-feed vcard account-loading collection external-link2 internal-link share-link icon-close2
Australia
  • Global
  • United States
  • Angola
  • Argentina
  • Australia
  • Austria
  • Bahrain
  • Baltics
  • Belgium
  • Brazil
  • Bulgaria
  • Cambodia
  • Canada
  • Chile
  • Colombia
  • Czech Republic
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Greece
  • Hong Kong
  • Hungary
  • India
  • Indonesia
  • Ireland
  • Israel
  • Italy
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Korea
  • Kuwait
  • Latin America
  • Luxembourg
  • Mainland China
  • Malaysia
  • Mexico
  • Morocco
  • Netherlands
  • New Zealand
  • Norway
  • Oman
  • Pakistan
  • Panama
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Romania
  • Russia
  • Saudi Arabia
  • Singapore
  • Slovakia
  • South Eastern Europe
  • Spain
  • Sweden
  • Switzerland
  • Taiwan
  • Thailand
  • Turkey
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Venezuela
  • Vietnam
Log In
  • Global Intranet
  • myCBRE
  • Services
    • Business Lines
      • Advisory & Transaction Services
      • Capital Markets
      • Global Workplace Solutions
      • Investment Management (CBRE Global Investors)
      • Project Management
      • Property Management
      • Valuation & Advisory Services
    • Industries & Specialties
      • Agribusiness
      • Build-to-Rent
      • Building, Depreciation & Cost Consultancy
      • Government Real Estate Advisory & Transactions
      • Hotels
      • Industrial & Logistics
      • Office
      • Residential
      • Retail
      • Retirement & Healthcare
      • Sustainability
      • Flexible Workspace
    • Services for Investors
      • Debt and Structured Finance
      • Host
      • Institutional Investments
      • International Investments
      • Investment Accounting & Reporting Solutions
      • Structured Transactions & Advisory
      • Leasing & Advisory
      • Metropolitan Investments
      • Property Management
      • Property Sales
      • Recovery & Restructuring
      • Valuation & Advisory
    • Services for Occupiers
      • Facilities Management
      • Leasing & Advisory
      • Occupier Consulting
      • Portfolio Services
      • Sale and Leaseback
      • Structured Transactions & Advisory
      • Transaction Management
      • Valuation & Advisory
      • Workplace
  • Properties
    • Agribusiness
      Hotels
      Industrial & Logistics
      Institutional Investments
      Metropolitan Investments
      Office
      Residential
      Retail
  • Research & Insight
    • Australia Research
      Asia Pacific Research
      Global Research
      COVID-19 Insights
      Expert Opinions
      Talking Property Podcast
  • People & Offices
    • Pacific Executive Committee
  • About CBRE
    • [email protected] - LGBTQI+ Inclusion
      Careers
      Case Studies
      Client Tools
      Corporate Information
      Corporate Responsibility
      Environmental, Social and Governance
      Investor Relations
      Media Centre
      The Place Makers

Next

Press Release
The Grand Hotel Bundaberg on the table
  • Home
  • About CBRE
  • Media Centre
  • Slice of Edward Street's history sells for $4.524m

Slice of Edward Street's history sells for $4.524m

Brisbane | 29 June 2017
  • Email
  • Share
  • Tweet
  • Share
Strong demand for freehold office assets in Brisbane’s CBD has underpinned the sale of a boutique building on Edward Street. 

CBRE’s City Sales’ Tom O’Driscoll and Andrew Adnam negotiated the sale of the 41 Edward Street building on behalf of a private vendor for $4.524 million. 

Situated on Brisbane’s tightly held high end retail strip, overlooking the corner of Edward and Margaret streets, the three storey heritage building comprises a basement, ground floor retail and office accommodation. 

The building, which is positioned on a 225sqm site and boasts a net lettable area of 550sqm, was sold with vacant possession in an off market transaction. 

Mr O’Driscoll commented: ”There has been a significant lack of CBD transactions, with the last 100% freehold sale of sub $30 million taking place in June 2016.

“This transaction was secured within a week prior to going to a formal campaign – highlighting the positive environment for property owners in the current market.” 

The Edward Street property is one in a series of transactions of heritage assets sold by Mr O’Driscoll, with the last being the Queensland Irish Club on Elizabeth Street, which sold for $8.1 million in January 2016.
 
“41 Edward, built in the same era, represented a well maintained recently refurbished offering that holds a small important piece of Brisbane’s history,” Mr O’Driscoll said.

The building is one of the few remaining CBD assets built by Thomas Rees – Brisbane’s former Lord Mayor – between 1885 – 1886. The property was first occupied by Robert Martin, a prominent shipping merchant who exchanged ironmongers, sail makers and riggers. Due to its proximity to the Brisbane River, it was occupied by shipping merchants for approximately 77 years.

Internally, the property offers high pressed metal ceilings, new lift, carpet, large internal staircase between floors and mosaic tiling, Hamptons’ style bathrooms.

Over the next month, the adjoining property, 47 Edward Street, will be offered to the market through CBRE City Sales – testing the strength of demand in the niche sector. 

With a total net lettable area of approximately 772sqm, the property is currently in its final stages of a full restoration and will be offered with vacant possession. 

Positioned on a 235sqm site, the property has an additional rooftop loft with river views, double height Herringbone ceiling and exposed original brick walls and timber flooring. 

For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Contact Us

$name
Natasha Pierson
Associate Director, Communications
Australia
+61 405 260 978
  • Corporate Information
  • Corporate Responsibility
  • Media Centre
  • About CBRE
  • Careers
  • Case Studies
  • People & Offices
  • Executive Committee
  • Investor Relations
  • Contact Us
  • Australia Privacy Policy
  • Privacy Policy
  • Whistleblower Policy
  • Sitemap
  • Terms of Use
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • Youtube