Agfam adds inner-city office to portfolio
A small office in Brisbane’s inner north east Fortitude Valley sold between local investors for $3.9 million.
Containing 419 square metres over two floors, 45 Amelia Street, Agfam Property is the buyer.
The seller, an entity, Health Health Centre Property No 1 Pty Ltd, paid $3.8m in late 2021.
At the time it was fully let to Sequel PR returning $205,000 net ex-GST.
This time around, that group was only renting the top floor until June, 2024.
Agfam, which settled in March, is now seeking a tenant for a part or whole space.
“The building’s…city fringe position is ideal for a professional services firm in need of secure parking facilities,” director, Stephen Gibson, said (story continues below).
45 Amelia Street
On 430 sqm, 45 Amelia St also contains up to 11 car parks, some secure.
“The campaign highlighted the current demand for freestanding commercial assets in Brisbane’s fringe, especially given the current lack of sock in the market,” Knight Frank’s Hayden Ryan, who marketed the property, said.
Co-agent Jacob Heinke added “as city fringe office vacancies tighten closer to 10 per cent, this sale reflects the pent-up demand for quality office accommodation”.
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