Built in 1937, 232 Adelaide Street is a seven storey heritage building centrally positioned in the heart of Brisbane and enjoying close proximity to retail amenities, cafes and restaurants.

This property offers real character due to its unique U-shaped upper levels with floor plates of ~550sqm.

Highlights

  • 4,428 SQM
    Total Lettable area
  • $16.5 million
    Book
    Value
  • 3.3 Years
    Weighted Average lease expiry
  • 5.0
    4.5
    Stars
    Energy | water Nabers Rating

Key Features

Building grade B Grade
Ownership 100%
Acquired/built/refurbished 1998/1937/2005
Car spaces 16
Lettable area 4,428sqm
Average floor plate 540sqm
Passing face rent $524psqm pa gross
Net property income $1.2m
External valuation/date $16.5m/June 2016
Value/lettable area $3,726psqm
Book value $16.5m
Cap rate 8.00%
Discount rate 8.00%
  • LEASE EXPIRY PROFILE BY INCOME
Vacant
0% OCCUPANCY 100%
FY17
31%
FY18
22%
FY19
6%
FY20
0%
FY21
0%
BEYOND
42%

Major Tenants

ILSC 1,384sqm 31% of NLA

EXPIRY June 2023

Markfire Pty Ltd 394sqm 9% of NLA

EXPIRY Aug 2016

Bureau Probert Architects 391sqm 9% of NLA

EXPIRY July 2016