Colliers International are pleased to present South Central Commercial to the market for sale. South Central Commercial, located at 43 Peel St in South Brisbane, is a fully leased investment grade 2,827msqr commercial property within a contemporary mixed use development.
South Central Commercial is a landmark office and retail facility providing high quality office accommodation to a range of mid-sized tenants in a prime location in South Brisbane. The building was developed by Forrester Properties in 2008 and has been owned and managed by them until now. Forrester Properties are also the manager for the residential component of the development which comprises 38 apartments over 7 levels South Central Commercial is situated 800m from the Brisbane CBD grid in the fast evolving near city suburb of South Brisbane. South Brisbane, which encompasses Brisbane's cultural, dining and entertainment hub of South Bank, has and continues to develop its importance to the city on account of the significant reshaping of its commercial and residential building stock. This renewal process is in a new phase of activity that will see it firm as the location of choice for both living and working.
The key attributes of South Central Commercial are:
- Opportunity to acquire a premium commercial asset in Brisbane's alternate CBD
- 2,827msqr net lettable area plus common areas, parking, signage rights and roof top area
- Fully leased building attracting strong rents in Brisbane's best performing office precinct
- Annual Net Income of $1,404,038 ex GST
- South Brisbane office vacancy is 6%, one of the tightest markets in Australia
- Completed in 2008 with limited capital expenditure required
- Weighted Average Lease Expiry of 3.13 years by income
- Secure income stream underpinned by Blue Chip tenant list
- Continuity of income protected via staggered lease expiries
- Clear separation between the office and residential uses
- Attractive car parking ratio (1:135msqr) for a near CBD location, plus motorbike and loading bays
South Central Commercial is offered for sale by offers to purchase.