The iconic 4-floor Engineering House has changed hands, with a local owner-occupier snapping up the building for $9,800,000 plus GST, in a sign of demand for  office space in Brisbane. 

Transacted via a successful expressions of interest campaign by the Colliers team of Hunter Higgins and Nick Wedge, 447 Upper Edward Street Spring Hill, located on the doorstep of the CBD, was sold on behalf of a local private investor. 

Colliers Queensland Investment Services National Director Hunter Higgins said there was strong interest in Engineering House due to its location in Spring Hill which was a natural extension of the  Brisbane CBD. 

“With demand from owner occupiers and value add investors seeking existing office space in  Brisbane overtaking demand for new builds in the current construction climate, we received solid interest from both local and interstate groups, with 48 enquiries, with the building ultimately sold to  a local owner occupier,” Hunter Higgins said. 

“The local group who provide access to high quality allied health care needed to secure office space for their growing business. 

“The buyer was attracted to the high calibre of the vacant building which has undergone a full refurbishment, coming fully fitted out and furnished, meaning they can move straight in and avoid lengthy timeframes and costs for fitout.” 

Colliers Queensland Investment Services Director Nick Wedge said located in one of Brisbane’s strongest performing commercial precincts a solid rate was achieved. 

“Transacted at a strong $8,201/sqm capital value, no expense was spared in the refurbishment of Engineering House, making it an attractive investment,” Nick Wedge said. 

“As an added benefit, the building has just undergone a full refurbishment, offering significant opportunities for the purchaser to inherit immediate and long-term depreciation benefits. 

“Deriving its name from a previous life as the headquarters for Engineers Australia, Engineering  House has a total gross floor area of 1,357sqm and onsite parking for up to six cars,” Nick Wedge added.

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