Historic Brisbane office building put up for sale

A recently renovated 1920’s office building located in the heart of Brisbane’s CBD is up for grabs and it is thought to be attracting interest in the region of $20 million.

The 100 per cent occupied boutique property at 262 Adelaide Street has been made available by The City of Brisbane Investment Corporation (CBIC) after the group completed a major facelift.

CBIC’s CEO, Kirsty Rourke explains the importance behind the decision to restore the historic site whilst maintaining many of its original features.

“With 262 Adelaide Street, CBIC was determined to preserve some of Brisbane’s CBD heritage, but we also needed to create spaces that suit how we work today,” she says.

Located near Central Station and the Queen Street Mall, the building is set to attract interest from a variety of suitors, and CBRE’s team of Jack Morrison, Andrew Adnam and Peter Chapple have been tasked with finding the right buyer.

“262 Adelaide Street offers high-quality office and retail space to suite a diverse range of industries, as proven by its current range of tenants,” Peter says.

“It offers investors a major point of difference in providing the type of character office space that many businesses are seeking without the capital expenditure requirements of other similar assets.”

The buildings main tenants include recruitment firm Blackroc, architectural and consulting practice Woods Bagot and popular fast-food eatery Greenstreat.

“At 100% occupancy, 262 Adelaide Street stands out as an exceptional leasing performer, with two-thirds of the building’s leases having been signed or reset in the past 12 months, despite challenging market conditions,” Jack adds.

The building was constructed in 1927 and boasts 1,824 sqm of prime office space, with the recent refurbishment introducing a foyer upgrade, high-quality office fit-outs and new lifts installed.

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