A unique alternative investment today & a key CBD development site in the future.
CBRE are pleased to exclusively offer to the market, Festival Car Park, located at 45 Charlotte Street, Brisbane CBD.
Investment highlights:
+ Majority interest for sale in one of the last remaining freestanding, above-ground CBD car parking facilities in one of the country's top-performing office and residential markets
+ Offered for sale are 422* secure car parks, including 377* individual bays managed by Care Park, 155 sqm of office/retail space and a further 45* bays leased to rental car operator Hertz.
+ Rarely traded asset class set to benefit from council planning controls on car parking ratios in future development.
+ Whole of Festival Car Park comprises an 1,835 sqm PC1 Principal Centre (City Centre) site with expansive mixed use development potential, allowing up to 274 metres in height (STCA)**.
+ Prized location at the doorstep of Brisbane's enormous investment pipeline and city-changing infrastructure, including the highly anticipated $3.6bn 'Queen's Wharf Brisbane' mixed-use development & 101 Albert Street office development.
+ Offered for sale with a lease to Hertz (expiring June 2025), and a management agreement to Care Park.
A 100% freehold stratum interest in Festival Car Park located at 45 Charlotte Street, Brisbane CBD is available for purchase via Expressions of Interest. Offers are to be submitted on or before Thursday, 18 July 2024 at 4.00pm (AEST).
* Noted no. bays, contained within Lots 1, 2, 28, 58 & 59 on BUP 13514, and Lot 401 on SP277490
** The ability to develop is for the whole of the building and would require consent of all owners
