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News release

BRISBANE

44 Commercial Road sells for $1.55million in JLL deal

Revitalisation of Brisbane’s inner north continues to drive commercial sales


​The revitalisation of Brisbane's Newstead has underpinned the sale of an office warehouse space at 44 Commercial Road to a local private investor. ​

JLL's Sam Byrne and Christian Sandstrom from Metro Sales & Investments negotiated the off-market sale within two days of the property being listed.   

Located in arguably Brisbane's most successful mixed use urban renewal precinct, the 331sqm site is surrounded by several new high density apartment buildings.

The property boasts a quality freestanding building featuring office and warehouse accommodation. The first floor office features open plan areas, partitioned offices, large kitchen area and separate staff amenities, while the ground floor incorporates a small showroom at the front and with warehouse accessed via a roller door and 6 easily accessed on-grade car parks.

Mr Sandstrom said the asset attracted strong buyer interest, which resulted in the off-market sale.

"The property's location in Newstead's Urban Renewal Precinct was a key drawcard in attracting interest, with Commercial Road now a recognised retail showroom strip," Mr Sandstrom explained.

"Newstead is a tightly held precinct, which is recognised nationally by investors as a secure long term area in which to invest," said Mr Sandstrom.

The purchaser, a local private investor, intends to occupy part of the premises while retaining the existing showroom tenant. It is then the owner's intention to refurbish the building to benefit from demand by tenants to be located within the gentrifying suburb.