13-15 Bowen Bridge Road sells in JLL deal
A quality, freestanding two level office building, strategically located across from the Royal Brisbane and Women's Hospital (RBWH) and within the Bowen Hills urban renewal precinct, has been sold in a deal negotiated by Senior Executive of JLL's Metro Sales & Investments team, Sam Byrne.
Offered with vacant possession, the property boasts a quality, freestanding building featuring two levels of office accommodation totaling 977sqm, prominent Bowen Bridge Road frontage, two-street access points and 25 secure basement car bays.
"We received significant interest throughout the campaign from new entrants into the Brisbane market, mostly Sydney-based private investors, which see an opportunity to capitalise on Brisbane's improving leasing market," said Mr Byrne.
"We have seen this trend evolve over the past six months. Interstate investors are recognising Brisbane as a market with significant long term growth prospects that is coming off a much lower base relative to Sydney and Melbourne," he said.
The purchaser intends to undertake refurbishment of the asset to accommodate a tenant requirement which sees value in being located within the RBWH precinct, as well as within walking distance of both the $2.9billion RNA Showground's and $1.1billion Herston Quarter redevelopments.