Allvey Property Group has expanded its portfolio with the purchase of 915 Ipswich Road, Moorooka, for $3.9 million.

In a deal brokered by JLL Metro Sales and Investments – QLD Associate Director Harry Borger and Senior Executive Sam Richards, the private investment group purchased the two-storey, 1032sqm property from Deaf Connect. 

Mr Richards said it was arguably Moorooka’s best freestanding office, with exposure to more than 70,000 cars per day, secure basement car parking for up to 14 vehicles and efficient floor plates that could easily be split into two tenancies or function well as a whole-building use. 

“The EOI process generated interest from part and full-building owner occupiers, as well as value-add investor groups attracted to the rarity of the offering, with a lack of comparable quality office buildings in the immediate precinct,” he said. 

“Further appeal came from the property’s location just 6km from the Brisbane CBD in the inner south suburb of Moorooka, with the quickly gentrifying mixed-use location offering access to rail, bus and retail amenities including Woolworths, various speciality stores and neighbourhood centres.” 

Deaf Connect is a leading provider of support services for the deaf community. The group plans to consolidate its Moorooka and Alderley offices into one headquarters in Brisbane’s near-city.

Allvey acquired the property to add to a growing portfolio of key holdings throughout Brisbane’s inner city. 

“The purchaser intends to upgrade the building in the short term, with the aim of leasing to a full building occupier,” Mr Borger said. “However, the functional internal layout has separate entry points and lift access to both floors, allowing flexibility to split and lease to two or more tenants.”

Deaf Connect will remain at the property on a leaseback until February 2025.

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