The asset comprises a 309m2* full floor office leased to the Institute of Queensland Optronics (IQO) who is a supplier and assembler of military-grade electro-optical surveillance systems. IQO leased the property on a 5 year net lease to 2022. Investors were drawn to the specialised dust free laboratory that the tenant fitted out across a third of the floor that was unique to their
The marketing campaign received 63 enquiries and 8 formal offers from local and interstate private investors. The purchaser was a private interstate investor. We are continuing to witness the trend of interstate investors seeing value at higher levels to local investors. The main attraction of the asset was the fact the tenant was run by some of the same operators of Elcarim Science, an established Singaporean based business that specialises in assembling and supplying the same systems.
Despite the current office vacancy levels in the Brisbane CBD and the relatively slower office vacant possession market, investors are becoming increasingly excited about the future potential of Brisbane and are pricing this into their offers.
|Method of Sale:||Expressions of Interest|
|Sale Date:||June 2018|
|Net Price:||$105,702 + GST pa|