Colliers Director Tom O’Driscoll said the property comprises part of Colliers' sale of three health-related properties across Brisbane and the Gold Coast for a total of $22.8m.
Colliers International Directors and brothers Tom O’Driscoll and Chris O'Driscoll announced the sale of 1220 Sandgate Road in Nundah, for $6.9 million.
The Brisbane property, which has 1,179sqm of net lettable area, is occupied by five tenancies including QML Pathology, The Joint Physio and Create Fitness.
The property comprises part of the sale three health-related properties across Brisbane and the Gold Coast for a total of $22.8 million on behalf of specialist funds manager, Centuria Healthcare, following a national expressions of interest campaign.
Speaking to COMMO, Colliers Director Tom O’Driscoll said 1220 Sandgate Road Nundah had received considerable interest, with over 140 enquiries, 38 in data room and going into 4 round bids.
The two-level building, located on a corner site with Boyd Street, has a site area of approx. 2,042sqm with off-street parking for 44 cars. It was bought by a local high net worth investor with the deal settling in August.
“Nundah Village, like most Brisbane suburban office precincts, has experienced a recent surge in demand from investors and tenants alike post COVID,”
Tom commented, “The nearby 1208 Sandgate Road Nundah sold at auction yesterday at 5.08% demonstrating growing demand for investors wanting to be in this tightly held precinct.”
Tom told COMMO “Employers looking to best accommodate their staff and entice them back into the workplace and away from home office setups, come back to cost effective locations, close proximity to major train lines, and high quality office accommodation with lifestyle amenities nearby.”
To view the listing for 1220 Sandgate Road or for more information click here.
Image: 1176 Sandgate Road, Nundah. Source: Colliers International
The sale follows on from the successful leasing campaign by Will Cooper, Associate Director leasing, Colliers of nearby property 1176 Sandgate Road, Nundah as the HQ of Busy Bees Australia. Backed by one of Canada’s largest pension funds, Busy Bees currently operates 630 childcare locations catering for 55,000 children.
“The recent leasing success story on 1176 Sandgate Road, Nundah with Busy Bees HQ is one of many major Corporates relocating their offices to gentrified urban renewal locations to best accommodate employees with a focus on a balance between work space and lifestyle,” Tom said.
Colliers is now marketing 1176 Sandgate Road for sale. The property has one of the strongest tenant profiles within the area, being backed by National, Government, and Multinational companies. The Expression of Interest (EOI) campaign closes at 3pm (AEST) on 24 November 2021.
Tom told COMMO, “Offering a fully leased, fully refurbished boutique office building of over 3.6 year WALE, the sale campaign launch of 1176 Sandgate Road offers the next investor to secure a low risk, strong cashflow with dev upside asset in a tightly held suburban office precinct of Nundah Village.”
Source: Colliers International
To request a copy of the Information Memorandum for 1176 Sandgate Road please email the marketing agent Colliers International's Tom O’Driscoll via the contact form below.
To request information about the sale of 1220 Sandgate Road please email either of the selling agents Colliers International's Tom O’Driscoll or Chris O'Driscoll via the contact form below.
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