This article is from the Australian Property Journal archive
PRIVATE investor Southern Cross Group has snapped up a newly constructed Eight Mile Plains commercial building for almost $19.735 million in one of the largest deals within the Brisbane Technology Park in recent times.
1 Miles Platting Road property was sold by Alceon and was the final asset in its BTP trust that commenced in 2013. The trust developed two office buildings and sold three development sites at Eight Miles Plains, four office buildings and a childcare centre at Northshore Hamilton, delivering a total of 21,800sqm of office accommodation worth approximately $110 million over the last 9 years.
The 3,118 sqm provides 2,808 sqm of net lettable area spread over two levels of the building and 62 car parks.
The sale was handled by Matt Barker and Blake Goddard of Knight Frank.
Barker said the sale was one of the larger deals in Brisbane Technology Park to take place in recent times.
“While this property was sold in an off-market deal we had significant interest from several buyers keen to invest in the business park,” he said. “A majority of investor interest stemmed from the property’s high-profile position, quality tenants, and strong cash flow.”
Goddard said the building occupied Brisbane Technology Park’s most strategic location with frontage and exposure to both Logan and Miles Platting Road.
“The development benefits from the existing park amenities such as connectivity to the high-speed fibre optic network, onsite security and proximity to childcare facilities, cafes and restaurants,” he said.
Located less than 15kms from the CBD, the Brisbane Technology Park spans more than 33 hectares, comprising over 45 commercial office buildings and 200 tenants.
