A boutique office opportunity in one of Brisbane CBD’s lovely old buildings has been put to market by Luke Billiau and Seb Turnbull of JLL Brisbane. The vendor of 109 Edward Street is the Brisbane Community Arts Centre Ltd, an unlisted not for profit public company. It was originally bought for $1,000,000 by the Arts Centre in October 2001, using funds from a Federal government grant.
Known as the Metro Arts Centre, 109 Edward Street comprises a 5-storey building plus basement. According to Brisbane Cityscope it was first constructed in 1889 as a riverfront warehouse and it still features the original ironbark support beams and pillars. In 1949 the Commonwealth Government purchased the building and converted it into offices; subsequently, in the mid 1970s, it was converted to a community arts centre. It officially opened as the Brisbane Community Arts Centre in July 1981. Further works were undertaken in 1988 to provide additional facilities for artists and the building was renamed Metro Arts Centre in 1988.
The building is listed by the National Trust and is on the Register of the National Estate. It has a building area of 2,796 sqm and is being marketed as a boutique CBD office refurbishment opportunity with vacant possession available early next year. It has DA approval for refurbishment works and extensions to the existing building which could include a new theatre bar and foyer area and a new cafe and restaurant to the rear of the building.
Located in the heart of the CBD, the property’s excellent location includes close proximity to the riverfront, Queen Street Mall and the local railway station.