Award winning TRG pays $1,123,500 for larger West End site and to get out of the rental market

by admin | 8th December 2011

As part of an expansion decision,TRG paid $1,123,500 for a 357m2 office building at 15 Kurilpa Street, West End.  Presently the company operates from a  rented Woolloongabba space and will be moving shortly to the new property once refurbishment is completed. King & Co agent Nathan Butler handled the transaction, while the vendor is undisclosed.

Located on 506m2 of Medium Density Residential  land, this property is of block construction and features good quality office/showroom with a small amount of storage/ stockroom on the upper level as well as male and female amenities and kitchen. In addition, there is 346m2 of ground floor space that offers 8 undercover car parks, with 3 more car parks at the front.

The award winning purchaser, which also has an office in Victoria, is a specialist  in building design, construction documentation, interior design, master planning and project supervision for shopping centres, strip shops, chain stores and warehouses, both domestically and overseas. Among its clients are Dick Smith, Myer, Bunnings, IGA. Bovis Lend Lease, KMart, Caltex and Woolworths. Recent SEQ examples include a shopping centre in Greenslopes, as well as supermarkets in Carindale and Deception Bay.

According to Butler, “TRG chose to buy because it wanted to get out of the rental market and into something with longer term value adding potential.”

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