Tag: real estate

Apartment With 1,000-Litre Fish Tank Sold in Fortitude Valley

Photo Credit: Ray White

A distinctive two-bedroom apartment with a giant fish tank in Fortitude Valley has sold for $1.15 million, showcasing the neighbourhood’s unique and competitive real estate market. Located at Unit 3/115 Robertson Street, the 150-square-meter apartment stands out with its remarkable 1,000-litre freshwater fish tank.

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Fortitude Valley’s Boutique Property Scene

The sale represents a significant moment for this low-density development, which had not seen a property transaction in five years. Nestled in the heart of Fortitude Valley, the apartment reflects the neighbourhood’s evolving urban landscape – a blend of historic charm and modern design.

Photo Credit: Ray White

The property’s aquarium, housing a diverse ecosystem of freshwater fish including clown loaches, Denison barbs, rainbowfish, tetras, catfish, and yoyo loaches, has become a defining feature of the unit. The tank was custom-built by the previous owner during their 12-year residence, transforming a standard apartment into a distinctive living space.

Market Dynamics in Fortitude Valley

Ray White New Farm agent Christine Rudolph highlighted the property’s appeal to downsizing buyers, particularly those attracted to the inner-city lifestyle Fortitude Valley offers. The apartment’s three separate balcony areas and exceptional natural lighting further underscore the neighbourhood’s premium property offerings.

Photo Credit: Ray White

The successful buyers, a couple of empty nesters, were drawn to the property’s location and unique characteristics. Their purchase signals the continued attractiveness of Fortitude Valley to discerning home buyers seeking something beyond the ordinary.

Photo Credit: Ray White

Innovative Urban Living

The apartment goes beyond its standout fish tank. The outdoor space features a garden courtyard with a bathtub, reflecting the innovative approach to urban living that has become characteristic of Fortitude Valley’s residential developments.

Photo Credit: Ray White

A Snapshot of Fortitude Valley’s Real Estate

With a sale price of $1.15 million and being the first transaction in the complex in five years, the property exemplifies the distinctive nature of Fortitude Valley’s real estate market. The new owners’ commitment to maintaining the elaborate fish tank ensures the continued uniqueness of this inner-city home.

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This sale underscores Fortitude Valley’s reputation as a neighbourhood where distinctive design and urban living intersect, offering residents properties that are as unique as the community itself.

Published 27-February-2025

Gotha Street Office Building Sold for $9.725-M in Fortitude Valley

A three-storey office building at 123 Gotha Street in Fortitude Valley has been sold to a local investor for an impressive $9.725 million.

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Situated on a 902-square-metre inner-city site, the fully leased property has a net lettable area of 1,638 square metres and offers 23 secure car parking spaces. It is currently the headquarters of Torrens University Australia.

Despite the challenging environment created by the COVID-19 pandemic and fluctuating interest rates, the property has remained a steady source of income for its investors.

Cal Doggett, Managing Director of Properties & Pathways, expressed satisfaction with the sale. Acknowledging the bittersweet nature of parting with such a prime location in a developing area, Doggett emphasised that the decision was driven by the company’s commitment to putting investors’ interests first and exploring new investment opportunities.

One of the most attractive aspects of this property is its corner location. With a generous 30.4-metre frontage on Gotha Street and 27.2 metres on Agnes Street, the building has enormous potential for future development. Its location in “Brisbane’s fastest growing inner-city office market” made it an even more attractive investment opportunity.

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Knight Frank’s Barker emphasised the value of this established asset and the opportunities it offers for repositioning and development. In addition to the building’s secure cash flow and high-quality covenant, the prospect of implementing a re-leasing initiative in line with the burgeoning occupier market in Fortitude Valley added significant value.

Generating a net income of $905,116 per annum with fixed reviews of 3.5%, the property’s impressive Weighted Average Lease Expiry (WALE) of 1.86 years by income is testament to its stability. Barker highlighted the potential to accommodate multiple tenancies, capitalising on the area’s popularity with occupiers. Accessible transport links and a wealth of amenities further enhance its appeal.

Fortitude Valley's 123 Gotha Street Office Building Sold for $9.725 Million, Promising Future Potential
Photo Credit: Maksym Kozlenko / Wikimedia Commons

Fortitude Valley’s continuous transformation, fueled by both public and private investments, adds allure to this property’s location. Renowned for its world-class shopping, exquisite dining options, stunning architecture and excellent transport infrastructure, the suburb has undergone a remarkable urban rejuvenation, cementing its status as a premier destination.

The sale at 123 Gotha Street is well timed to coincide with ongoing and future development projects in Fortitude Valley. These include the Valley Heart Precinct, Fortitude Valley Metro, Cross River Rail, Brisbane Metro, Brisbane Live, Waterfront Brisbane, Queens Wharf and the highly anticipated Brisbane 2032 Summer Olympics. The property is poised to reap the benefits of the area’s growth and the exciting prospects these projects bring.

Published 17 June 2023