A commercial building bearing all the hallmarks of Teneriffe's rich history as a riverside suburb of Brisbane is on the market.

Boasting a total building area of 1,220 square metres and holding a dominant presence on Commercial Road with over 40 metres of street frontage, the two-level office and warehouse building sits on a large landholding of 1,275 square metres and benefits from a large parking area.

Selling agent Sam Byrne of JLL said the property came with immediate development upside.

At a glance: 

• A two-level office warehouse building at 132 Commercial Road, Teneriffe is for sale through JLL.
• The property has a total building area of 1,220 square metres and benefits from mixed-use zoning.
• The sales campaign is being managed by Sam Byrne and Tim Jones, of JLL.

“This is the former head Office for Malouf Pharmacies and a real landmark in Teneriffe," he said

“What makes it so unique is that the property can be transformed into anything.

"The building as it stands is a mix of character offices with an impressive atrium as well as a high bay warehouse.

"The zoning is mixed-use, so the property could be realised as offices, retail, residential, alternate use or be completely redeveloped into something different."

“It’s based the heart of Teneriffe and given the flexible nature of the property and potential development upside, we have already had a significant amount of interest from buyers locally and nationally.” 

JLL’s Tim Jones said the premium and unique nature of the property would suit a broad base of buyers, from owner-occupiers seeking new headquarters in an inner-city location, to boutique residential developers capitalising on Tenerife’s popularity as a premium lifestyle suburb. 

“This is a rare opportunity to acquire a significant landholding in one of Brisbane’s most popular suburbs," he said.

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