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News release

BRISBANE

Barry Parade property in Brisbane’s Fortitude Valley sold for $2.485 million to local owner-occupier

​​​​​​A boutique inner city commercial property which has been extensively refurbished has been sold for $2.485 million in an off market sale


​​​​​​A boutique inner city commercial property which has been extensively refurbished has been sold for $2.485 million in an off market sale negotiated by JLL's Christian Sandstrom and Sam Byrne on behalf of a local private investor.  

The property at 112 Barry Parade in Brisbane's Fortitude Valley sits at the centre of the city's most acclaimed urban renewal precinct, just under one kilometre from the CBD and in a pocket famed as a creative hub. The property has a site area of 304sqm and features a ground level showroom of 189sqm, a first floor office of 173sqm and a second floor office of 194sqm, for a total NLA of 556sqm. The three level building also has car parking available for 4 tandem and one single space.

JLL's National Director of Sales and Investments, Christian Sandstrom said the interest in the property reflected the increasing demand from owner occupiers for fringe properties with a difference. ​

The buyer is local private investor Ms Allison McKelvie who will look to relocate her business Hall Browns Accountants from nearby Fortitude Valley in October this year.

Ms McKelvie commented, "While the original refurbishment of this unique city fringe building was of immediate appeal, we have engaged architects Arkhefield to inspire a new contemporary fitout to align with the attitude and aspirations of Hall Browns Accountants."

"Based in the centre of the CBD and Valley fringe and midway between Brisbane's latest landmark commercial tower of 480 Queen Street and Gurner's Flat Iron in the Valley, the site illustrates the growth and investment in quality property along Ann and Wickham Streets and Barry Parade, making this a uniquely positioned precinct to enjoy equal access to the Brisbane CBD, riverfront development near Howard Smith Wharves and Fortitude Valley," she said.

"And add to this, securing a quality tenant in Wahoo advertising to activate the street level tenancy shows the qualities of what we expect Barry Parade to become in the future."​

Mr Sandstrom added, "Local developer Reculver Group fully restored the building some 15 years ago, and the buyer has come from another property Reculver and Malcolm Hall-Brown restored in Water Street, Fortitude Valley, to the Barry Parade address."