Audi centre in Fortitude Valley changes hands

May 28, 2018 by  

Brisbane Audi Centre (BAC) within Fortitude Valley was sold for about $91m.

BAC was bought by a property firm called Dexus for more than $91m. The giant business now owns the BAC and an adjacent Euro Marque site inside Fortitude Valley. Letterheads from local printers can be useful for organisations which control assets in the inner suburbs of Brisbane.

The properties in question are situated on Wickham Street. The purpose-built structures are dealerships for top brands. Some of the space is reserved for showrooms, while traditional offices are featured in the designs. One of the buildings was completed 12 years ago, while the other was finished during the course of 2011.

Down the years, Bentleys, Lamborghinis and Audis have been sold from the site. There is an external area of over 2500 square metres that can facilitate sales. Mike Walsh of CBRE was involved in the marketing of the property, and expressed his positivity about the transaction. Dexus, the biggest landlord within Australia, should collect a considerable annual income from the property in the aftermath of an important lease recommitment.

There was considerable interest in the site prior to the sale, with property companies of different types making nine reported offers. The enthusiasm was generated by the development potential of the location. Buildings with many storeys could be constructed on the land.