Timeless beauty hits CBD market

A LITTLE slice of New York has been served up in Toowoomba.

LJ Hooker Commercial Toowoomba is marketing the CBD’s timeless 300 Ruthven Street building, which boasts a fit-out that wouldn’t be out of place in Greenwich Village or other neighbourhoods in New York’s creative districts.

High ceilings, exposed beams and brickwork and original floorboards are featured throughout the facility’s 11 offices, open – plan breakout area, conference and tearooms.

The property is secured by a strong tenant covenant that is diversified through several interstate industries.

The current tenant has signed a five-year lease with options until 2035.

The tenant is paying $100,000 per annum (outgoings paid by lessee) with annual increases to CPI set for the term of the lease.

LJ Hooker Commercial Toowoomba’s Daniel Cullinane and Markus Eames (pictured) are marketing the long-term investment opportunity.

Mr Eames said the attention to internal detail in the office space was immediately noticeable upon entry.

“It’s not your standard office facility – it makes a real statement as soon as you step inside,” said Mr Eames.

“It’s rare that a property of this calibre comes to the market with not only a strong tenant covenant and secure future income, but a timeless fit-out reminiscent to the trendy workspace you’d find in New York.”

Mr Cullinane expected the investment asset to attract interest from within Queensland and interstate.

“Interest rates are at record-lows and there’s no indication that will change any time soon,” said Mr Cullinane.

“With institutions offered subdued returns, investors are scrambling to secure long-term investments with a secure future income.

“Seldom do properties like 300 Ruthven Street become available.”

The property also features four carparks with rear entry.

For further information, contact Mr Eames on 0407 388 856 or Mr Cullinane on 0431 278 806.