RF CorVal 33 Longland Street Trust

33 Longland Street, Newstead QLD 4006

Property Information

Property33 Longland Street, Newstead QLD 4006
CommencementMarch 2021
Building Size2,950 sqm NLA
Purchase Price$20.5m
Target Equity IRR10-12%

A core-plus investment providing high quality creative office space.

The RF CorVal 33 Longland Street Trust is an unlisted property trust established to acquire a converted heritage woolstore providing high quality, character filled office space. In its current configuration, the building provides 2,950 sqm of NLA across a ground floor and 3 upper office levels and parking for 31 vehicles.

The Property is located in Newstead, a vibrant mixed-use suburb in the fringe of Brisbane, some 2km from the CBD. This proximity to retail amenity and transport links, along with the smaller style and unique nature of the office suites will provide stronge leasing prospects.

The Trust strategy is centered around introducing an institutional style of both property and asset management, and driving improvements in occupancy with targeted fit out and refurbishment strategies, including a redesign of the lobby and installing end of trip facilities.

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