Finance related companies pay $1,135,000 for two identical Heritage Listed commercial properties in Kangaroo Point

by admin | 27th October 2010

Separately owned finance related companies have paid a total of $1,135,000 for two identically sized Heritage Listed office buildings at 23 and 27 Cairns Street, Kangaroo Point, on the southern end of the Story Bridge (or $550,000 and $585,000, respectively). King & Co’s Jane Turnbull handled the transaction while the vendor for both is undisclosed.

These properties are next to one another to create a Heritage Listed Streetscape and comprise 69m2 older style timber and tin cottages on 210m2 of Commercial land. They are well maintained, have excellent exposure and  include a foyer, open reception, three offices, a kitchen, separate toilet facilities, parking for three, as well as a rear, paved courtyard. There is also access to Cable Lane for ‘as of right’ parking.

Turnbull says both of these properties received a high level of enquiry as soon as they came onto the market, in part due to their iconic location, adding that having a Heritage Listed status was not a problem. She went on to say that each business is relocating from the CBD due to its lack of parking.

Formerly on one lot, they have been subdivided, with each now having its own freehold title

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