A freestanding commercial building in Brisbane’s Fortitude Valley, next to the  city’s CBD, has sold following a competitive on-market Expressions of Interest campaign. 

The property at 45 Amelia Street consists of a two-level office building providing 419sq m of high-quality  office space on a 430sq m site, with onsite parking for up to 11 vehicles. 

It was purchased for $3.9 million by a local private investor following an Expressions of Interest  campaign run by Knight Frank agents Hayden Ryan and Jacob Heinke, on behalf of Health Centre  Property No 1 Pty Ltd.  

Mr Ryan said the property was a rare offering and attracted interest from a variety of buyers, including  both owner-occupiers and investors from across the country. 

“The on-market campaign yielded significant interest, drawing 87 enquiries and 16 inspections  throughout the process,” he said. 

“There were several written offers at close, with the property ultimately transacting a local private  investor, Afgam Property, who are looking to add to their Brisbane holdings. 

“Ultimately the campaign highlighted the current demand for freestanding commercial assets in  Brisbane’s fringe, especially given the current lack of stock on the market.” 

Mr Heinke said the Fortitude Valley property was in a sought-after position close to the Brisbane CBD. 

“As city fringe office vacancies tighten closer to 10%, this sale reflects the pent up demand for quality  office accommodation,” he said. 

“As a result of extensive development in the surrounding area, Fortitude Valley has become one of  Brisbane’s most popular business and retail hubs, granting exceptional amenity day and night. 

“The suburb continues to benefit from public and private investment striving to secure a stronghold  within this key growth corridor.”

Director of Agfam Property Stephen Gibson recognised the strategic location close to key  surrounding amenity.  

“The building’s advantageous city fringe position is ideal for a professional services firm in need of  secure parking facilities,” he said. 

He noted that the proximity to James Street and the Jubilee Hotel serves the requirements of both staff and clients well.

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