Being advertised as a ‘Golden Triangle Trophy Asset’, 410 Queen Street in Brisbane has been put on the market by Mike Walsh and Peter Court of Cushman and Wakefield in conjunction with CBRE.
The vendor is RG Property One Pty Ltd, a company associated with RG Property, a privately owned company which was established around 65 years ago by the late Mr Sam Rifici. The group’s core business was originally retailing within the hairdressing industry but over the years the group has diversified into property investment and development, including, retail, office buildings, and residential developments.
According to Brisbane Cityscope, 410 Queen Street, Brisbane is a 15-storey office building which was formerly known as the Credit Union Australia House and before that, the Bank of New Zealand Building. The building was completed in 1983 and comprises two levels of basement parking for 42 cars, ground floor retail, three podium levels and eleven upper office floors. In late 2002 major refurbishments were carried out on the lower seven levels, including the ground floor and further refurbishment work was undertaken in early 2013. Located on a block
of 868 sqm, the building has a net lettable area of around 5,700 sqm.
Major tenants include APRG, Australian College of Rural & Remote Medicine, Comcare, Royal Australian College of General Practitioners and Tourism Leisure Corporation. The tenants benefit from the building’s close proximity to Brisbane Riverside, Queen Street Mall and Brisbane Central Station and the lovely river views from the upper levels.
Cityscope records show that the property last traded at $28,824,565 in 2011.