Trident Property Advisory are pleased to have acquired 29 Doggett Street, Teneriffe on behalf of a syndication of private investors. Located in one of Brisbane’s most desirable & prestigious suburbs the asset presents a strong mix of both retail and commercial tenancies.
What is best described as a true trophy asset, 29 Doggett St is located just 150 meters north of the iconic Calile Hotel and James St precinct on a high exposure corner of Doggett St & Chester St. The pocket between James St and Commercial Rd is one of Brisbane’s most in demand and tightly held locations. The investment is secured by a number of solid leases with a mix of six quality commercial and retail tenants, including Universal McCann a leading global media and advertising brand and quality food and catering brand Botanica, that are within close walking distance to Brisbane’s lifestyle hub on James Street.
Developers and sophisticated investors have been snapping up development sites and existing assets at strong prices as they look to secure the last of the opportunities sitting within the mixed-use zoning in this precinct. This ongoing future refinement and the residential, retail & commercial developments in the pipeline creates an exciting long-term picture for this asset and projects strong growth for the asset.
From what once was just a warehouse, 29 Doggett has been transformed into a top quality, high yielding mixed use asset which has been re-positioned by one of the key developers responsible for the James St transformation over the years. With a passing net income of $644k p.a. and a 4.7-year WALE, this acquisition reflects and initial yield of 5.27%. The asset spans over two levels with 1,015 sqm of NLA including 2 office and 4 retail spaces.
Trident Property Advisory are looking forward to proactively managing this property for our client. For any further information regarding this acquisition or potential advisory and management services, please contact Luke Healy on 0432 418 783.