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The Brisbane property market has long recognised 16 Doggett Street as ‘prized real estate’, with a history of numerous buyers attempting to acquire the property. In summarising the transaction, we were asked to make an approach to the seller to buy the property.
Although the owner was adamant that the asset wasn’t for sale at numerous points in the negotiation, our careful positioning of the offers and our approach, along with our intricate knowledge of the James Street Precinct market, was able to secure a market leading price for the seller.
With nearby developments providing precedent to unlock additional height above code, the new owner will be able to deliver a truly iconic project on the site.
16 Doggett Street, Fortitude Valley
Land Area: 796sqm
NLA: 476sqm
Zoning: MU1 Mixed Use (Inner City)
Occupancy: Leased to I-Med Radiology
Purchase Price: $10,000,000
Sale Rate / Sqm (Land): $12,563/sqm
Sale Rate / Sqm (NLA): $21,277/sqm
Initial Yield: 3.2%