Asian interest is expected when the largest land holding in Brisbane’s Chinatown Mall is offered for sale by Expressions of Interest next month.
The development presents an investment opportunity according to the marketing agency, with income and development upside.
The Valley Heart Portfolio, a 9,340 sqm landmark site in Brisbane’s Chinatown Mall (pictured) is on the market, and the portfolio consists of mixed-use buildings across two land parcels with prominent street frontages on Brunswick and Duncan Street.
Tom Phipps and Jason Lynch of Colliers International are exclusively marketing the opportunity which offers a collection of iconic properties and secure recurring income from quality tenants across net lettable area of 19,096 sqm.
Tom Phipps, Director of Capital Markets and Investment Services at Colliers International, said: “The offering is unique in its scale, with the portfolio commanding the largest land holding on Brisbane’s Chinatown Mall, and just 1.2 kilometres from the Brisbane central business district.
“The size of the parcels offer a never to be repeated opportunity to create a world-class mixed use development in the heart of Fortitude Valley.
“The Valley Heart Portfolio offers the flexibility to hold the properties as an investment with future development upside, or immediately commence the development process while enjoying significant holding income,” added Phipps.
The Valley Heart Portfolio consists of 315 Brunswick Street (TCB) which is located on a 4,510 sqm site and comprises 14,058 sqm of lettable area, with 31 Duncan and 143-153 Wickham Street (Chinatown) being situated on a 4,830 sqm site featuring 5,038s qm of net lettable area.
The portfolio is being offered for sale by Expressions of Interest closing at 4.00pm (AEST) time on Wednesday, November 12, 2014.
Image: Eduardo M. C. via Wikimedia Commons.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
