An A-grade office property in Nundah has been bought for $105.25 million in what appears to be the second biggest deal yet in Brisbane this year.
Centuria Property Funds, based in Sydney, is purchasing the building at 1231-1241 Sandgate Rd from Growthpoint Properties Australia. The two parties are expected to settle the deal in July 2017.
Australian Financial Review revealed that the sale is in line with Growthpoint’s strategy to cut debt and rebalance its portfolio.
Lure of Brisbane Property Investments
The extravagant Nundah property deal confirms a trend luring property investors to Queensland. With its healthy economic growth forecasts, investors are targeting Brisbane and its surrounding areas.
The price advantage that Brisbane has over Sydney and Melbourne is one reason why investors are becoming increasing interested in putting money in the local real estate market.
Centuria is upbeat about the Sandgate property considering the strong demand and decreasing office vacancy rates in the region.
Nundah, in particular, offers strategic location advantage as it is situated between Brisbane CBD and the airport. The suburb also provides top quality retail amenities and adequate access to trains and road infrastructure.
The 12,980-square-metre Nundah property is fully leased to tenants that include Energex and Powerlink. The Sandgate property is ideal for long-term investment, with a weighted average lease expiry (WALE) of 9.4 years and 81% of gross income coming from Queensland government owned tenants.
It was one fine day for a Neil Finn fan and film teacher Karyn Chapman when the musician replied positively to her tweet asking if her school could use his song for a music video.
Ms Chapman, who teaches in Mary MacKillop College in Nundah, was ecstatic when she read Neil Finn’s response to her tweet. She handles the school’s film and TV program. Part of the program is music video production for Year 11 students.
Ms Chapman has been a fan of Neil Finn since she was 13 years old. She admits having tweeted to him occasionally, but this was the first time that the musician replied. She told him that college is looking for a song to make a music video and asked if they could use one of his songs. Neil’s response was short and encouraging.
To create music videos, Ms Chapman’s students usually rely on royalty-free music they get from websites such as Bensound and Purple Planet. Unless they get expressed permission from musicians, their choices are limited to royalty-free music.
Since it’s often difficult to find royalty-free music, the school would look for emerging bands who would want a music video shot for them. That is why it was a pleasant surprise for Ms Chapman and her students to hear from someone as famous as the Split Enz and Crowded house musician.
Ms Chapman revealed that she’s not the only Neil Finn fan in the school. In fact, the school plays his music often during liturgies, assemblies or awards night.
Restaurant owner refuses to cut Sunday penalty rates of staff.
Sunday penalty pay rates have been slashed by the Fair Work Commission, to the dismay of union groups and workers affected by the decision. Despite the pay cut rule, Earth ‘n’ Sea Nundah owner Steve O’Shea will not reduce the penalty rates of his staff.
Mr O’Shea said that the gesture is one way of showing his staff his appreciation for their work and dedication. Sunday is the third busiest day for Mr O’Shea’s business, next to Friday and Saturday.
He thinks that maintaining the current rate makes good business sense. Sunday is a rest day for most people and for his staff to go to work on that day is something that he values.
Giving his staff the compensation they deserve will translate to excellent customer service. He also believes that taking away something that’s been available for so long could affect the morale of the people at work.
Had Mr O’Shea opted to cut the Sunday pay of his restaurant staff, his chef would have lost about $54 every Sunday. According to the controversial decision of the Fair Work Commission, the staff could have taken a 14.25 per cent rate reduction.
Earth ‘n’ Sea Nundah serves pizzas and pasta 7 nights a week from 5:30 pm. Every week, the restaurant features a Beer of the Week Special.
The restaurant is located at 1252 Sandgate Road, Nundah. For more information, visit the Earth ‘n’ Sea Nundah website or their Facebook page.
Get directions to Earth ‘n’ Sea Nundah.
The Nundah Village Street Festival and Art Show was recognised as Community Event of the Year at the recently concluded 2017 Lord Mayor’s Australia Day Awards.
The street festivity, which was organised by the Nundah District Development Association, was distinguished for showcasing local schools, businesses and community groups in one festive event. The annual event has been celebrating local lifestyle and featuring local businesses and community groups for 15 years.
The 2016 event, held on Sandgate Road and Station Street, attracted some 10,000 locals and visitors. The event featured performances from local schools, live bands and a whole day of street party.
The Nundah festival also included some fun competitions, outdoor movie, an art show, fun rides and face painting for kids. Along the streets were stalls and charity markets. This event also become a venue for some non-profit organisations to inform guests of their advocacies.
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