- Townville office asset sells for $17M
- The site is a retail to office convert
- Aviator Capital purchased the 3,654sqm property
The Townsville office asset – Urban Corner – has sold for $17 million, before the on-market campaign launched.
The site was once a neighbourhood shopping centre but underwent a $6 million retail to office conversion in 2018.
The 3,654sqm single-level office asset was sold by JLL Queensland’s on behalf of a private investor and purchased by Queensland-based Aviator Capital.
Elliott O’Shea from JLL, believes leases by GHD Engineers and Manpower underpin “…the demand for high-quality office space in the area.”
“The Urban Corner transaction is another example of the liquidity in our regional markets for the right product. There remain high levels of unsatisfied capital still looking within these markets for value that cannot be found currently in metropolitan areas,” Mr O’Shea explains.
“Townsville is an exciting regional market which we believe will benefit from significant infrastructure and investment programs over the medium term.”
Andrew Glen, Aviator Capital Managing Director
Future tenants and customers will have access to 113 undercover car parks, an attractive feature for the site.