New 5 year lease to Busy Bees HQ repositions boutique fully occupied asset in tightly held Nundah Village


New 5 year lease to Busy Bees HQ repositions boutique fully occupied asset in tightly held Nundah Village

For Sale - 1176 Sandgate Road, Nundah

Located within the heart of Brisbane’s fastest growing metro areas, Colliers are proud to present 1176 Sandgate Road, Nundah to market via International Expression of Interest.

Nundah’s growth over the past 10 Years has been unparalleled to any other suburb, with some of Australia’s largest and most sophisticated institutional investors actively seeking properties within the suburb. With the likes of Dexus, Centuria, Goodman, ISPT, Mirvac, and Vicinity Centres collectively acquiring in excess of $540 million worth of assets over the past 10 Years, the story of Nundah has again shifted into an institutional purchaser playground. Being located directly opposite Centuria’s Energex Northern metro Office acquired for $106.3 million in July 2017 and ISPT’s Nundah Village Shopping Centre which they acquired for $36.6 million in June 2018, 1176 Sandgate Road offers a unique opportunity to acquire a prime building amongst some of Australia’s most sophisticated and largest institutional investors. 

Colliers Director Tom O’Driscoll notes “With almost $4 billion of investment pledged by BCC and over $540 million of investment from institutional purchasers, Nundah’s growth over the past 10 Years has uniquely placed it as one of Brisbane’s most prominent growth suburbs.”

With the backing of these institutional investors, Nundah is primed for a rapid expansion of infrastructure and wealth. Offering a comparatively more affordable alternative to the neighbouring Hendra and Ascot, Nundah’s median house price is 598% and 110% more affordable. Despite this, Nundah’s median personal income is 28% higher than that of Greater Brisbane making it one of Brisbane’s most attractive gentrification suburbs. With the backing of locals, Brisbane City Council ahs pledged $4 billion in urban renewal efforts to both Nundah and the surrounding areas. Needless to say, Nundah is one of the most exciting suburbs to watch over the coming 10 years.

1176 Sandgate Road has experienced one of the most selective leasing campaigns over the past 2 Years to further complement the existing National and Government tenants. Throughout this period, Will Cooper has placed both H&R Block, one of Australia’s largest boutique accounting firms and most recently Busy Bees Australia with a 5 Year lease and announcing 1176 Sandgate Road as their National Headquarters. Backed by one of Canada’s largest pension funds, Busy Bees current operations of 630 childcare locations catering for 55,000 children has only recently entered the Australian market but is actively pursuing a merger & acquisition strategy. These incoming tenants are further complimented by Commonwealth of Australia and Help Enterprises, one of Australia’s premier disability recruitment firms. 

Will Cooper who spearheaded the leasing campaign commented “1176 Sandgate Road has one of the strongest tenant profiles within the area being backed by National, Government, and Multinational companies. Throughout the intensive leasing campaign, we wanted to ensure the existing profile was preserved with tenants which were ‘cycle proof’ and demonstrated this through the most recent 5 year lease to Busy Bees.”

Commenting on the upcoming opportunity, Colliers Director Tom O’Driscoll said “1176 Sandgate Road, Nundah represents a unique opportunity to acquire a fully leased office building backed by both National, Government, and Multinational companies. One of the trends we have seen over the past 18 months since Covid is an influx of purchaser interest within Metropolitan Regional assets as they appeal to privates, syndicators, and now institutional purchasers as they are starting to lower their entry level pricing. With the forecasted growth of Nundah, we anticipate 1176 Sandgate Road to be one of the most existing opportunities in Q4.”

1176 Sandgate Road, Nundah is being offered for sale by International Expression of Interest (EOI) closing 3pm (AEST) on 24th November 2021.

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