A PROMINENT complex in The Lakes becomes a multi-tenant office after being sold to a local dental group for more than $ 3 million.
Colliers International Townsville marketed the property on the corner of Sabina Street and Martinez Ave, West End, and completed the sale while Ray White Commercial introduced Townsville to the buyer.
The property was previously the purpose-built office of the former BCK Lawyers law firm, which closed last year.
It was owned by Brisbane investors who bought it for $ 3.4 million in 2004, roughly what the new buyers are said to have paid for the site.
Todd Walsh, executive director of Colliers, said the owners have been looking for a buyer or tenant since the company closed in May last year.
“The property is suitable for both medical and professional use so it has attracted regular interest as it has been promoted,” said Walsh.
“Despite the prime location and the attractiveness of the street, it was difficult to find a single user for the entire building. The building is large and has an area of over 1,600 square meters.
Rent separation was concluded and the building was offered to several potential users with areas of 200 m² or more.
Mr Walsh said the new owner intended to occupy about 700 square feet while another group, an insurance company, wanted to rent about 250 square feet later this year. Areas around 150 m 2 and 300 m 2 are still available.
Ray White’s sales representative Troy Townsend said the new owner would ideally want a medical or related health care provider to take over the remaining leases.
Mr Townsend said the area is popular with businesses.
“Every building that has been available for sale or rent in the area in recent years has been claimed,” he said. “I think this area has a good view of Woolcock St. It is also a good hub for serving customers from the western suburbs and the business district.”
The property has a land area of 3878 m² and a building area of 1587 m². The building is known for having high-end fixtures and fittings and a 75 m long facade facing Woolcock Street. It also has 42 on-site parking spaces, including covered spaces.