It is the latest property deal struck as the city hopes to woo more investment in commercial and residential real estate in the lead-up to the 2032 Olympics.
Wakefield’s Jonathan O’Brien, Mike Walsh, Peter Court and Frederic Le Fanue and CBRE’s Bruce Baker, Jack Morrison and Adelaide O’Brien on behalf of a Gold Coast-based private investor.Wakefield’s Mr O’Brien said the combined precinct of Newstead/Gasworks and Fortitude Valley was winning substantial institutional investment while attracting large corporate and multinational occupiers.
“The immediate precinct has enjoyed substantial institutional capital investment with over $2 billion in transactions occurring in the area over the last five years,” he said. CBRE’s Mr Morrison said land-rich assets had additional appeal, such as the site at 1 Breakfast Creek Road. “This transaction follows the trend of private investors picking up high-profile assets in inner-city Brisbane ahead of the anticipated growth of population and employment base,” he said.
But the interests of existing investors can sometimes clash with the fresh wave of development capital flowing into the city.which will feature 49-storey and 43-storey towers, restaurants and bars, a six-metre-wide promenade and a new 280-metre river walk leading to the city’s botanic gardens.
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