DEVINE has sold a Brisbane CBD office building to DKL Property Investments, a company associated with Emmanuel Drivas, co-owner of the Coffee Club cafe chain.
The property was sold for $24.5 million in a deal negotiated by Shaun Douglas and Tobias Benz of Chesterton International.
“We identified and secured the prime
“We received several off market approaches for the property and decided it was prudent to secure an early profit through selling this asset which allows us to concentrate on our $1.2 billion dollar French Quarter project and commercial developments at
Located at
Drivas said he intends to refurbish the building and lease it out.
“The purchase of this site presented a site with development potential that provides good holding income which is rare to find. That is what attracted us to the property,” Drivas concluded.
The transaction is due to settle on January 12 2009.
Australian Property Journal