$92.8m office block sale a ‘vote of confidence’ in NQ
Colliers International negotiated the off-market transaction, which it described as the largest office building sale in Townsville’s history.
Developed in 2013, the complex at 445 Flinders St was built to service numerous Queensland Government departments as a strategic location for the Advance North Queensland policy.
Colliers Townsville associate director Neville Smith said the sale was a huge vote of confidence for the region.
“It is not often you see assets of this magnitude transact in regional areas as they are of a size that you would typically relate to the capital cities,” he said.
“Naturally, we are very pleased to have played a role in in the sale of 445 Flinders Street given it is the largest office building sale in Townsville and the region’s history.”
The sale included a 1523sq m parcel of land at the rear (232-242 Sturt St) which has been used for car parking.
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