262 Adelaide Street

Property Summary as at June 2020

Ownership
100%
Acquisition date
2017
Site Area
445m2
Total area (NLA)
2,426m2
Occupancy
52%
WALE (Income)
2.3 years
Major Tenant/s
GreenStreat, Woods Bagot, Axis IP
Value Range
circa $20 million

262 Adelaide Street is a heritage building which has been carefully restored over the past two years. Each office floor, the façade, and the lobby have been refurbished, including all new services infrastructure and fitouts. Repositioning the asset has resulted in several new tenants committing to office and retail space during the year, despite the impacts of COVID on the leasing market. The positive outcome has substantiated CBIC’s conviction to fully refurbish and reposition this beautiful part of Brisbane’s heritage.

In line with CBIC’s focus on responsible investing, 262 Adelaide Street now has equitable access from street level to the lobby and retail level with a new lift providing accessibility to the rest of the building. This improves marketability for the office space and the upper ground retail space, which is currently being fitted out by the new tenant. The high quality finishes and energy efficient operation continues to draw high calibre tenants from the creative, design and IT industries.

The revitalisation of 262 Adelaide Street has improved the streetscape in this precinct and contributed to the preservation of Brisbane’s heritage buildings.

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