This article is from the Australian Property Journal archive
THE former Woolstore building at Teneriffe leased to Brisbane’s Nova radio station has been sold to Brisbane based Engage Capital for $10.775 million.
Located at 130 Commercial Rd, the four-level office building comprises 4,338 sqm of space and sits on a 1,710 sqm site. The top floor is occupied by Nova Media on a 15-year lease with options.
The property was sold by international cotton trading company Dunavant, which is also based in the building.
The transaction was negotiated by Greg Harris and Peter Chapple of Savills and Gareth Closter of Chesterton.
Harris said the property represents a unique commercial asset in a prominent urban renewal location.
“The building has been completely restored in keeping with the charm of old Woolstore building and provides high ceilings and wide open spaces for a modern office environment.
“It also features a central atrium for additional natural light, passenger and goods lifts, security card access to all floors and 46 secure basement car parks. The property has been acquired as a long-term investment, with future refurbishment and repositioning potential,” he concluded.
Australian Property Journal
