OfficeHarrison CaithnessTue 21 Jul 26
Five Years On, Forza’s Brisbane Office Tower Tipped to Fetch $110m
Forza Capital has put its Brisbane CBD office tower at 340 Adelaide Street on the market with price expectations of about $110 million, five years after acquiring the asset from Mirvac.
The 16-level A-grade office building was bought by the investment firm for $86.8 million in 2020.
It will be offered for sale via an expression of interest campaign managed by CBRE's Peter Chapple and Jack Morrison.
The freehold property comprises 12,719sq m of office space, 147sq m of retail space and 101 car parks. It also features rooftop solar and a 5.5-star NABERS Energy rating.
The building on the corner of Adelaide and Wharf streets is on the edge of Brisbane’s Golden Triangle and is about a five-minute walk from Central Station. Major tenants include Oracle and Cisco.
The campaign comes as Brisbane’s office market continues to outperform the national average.
Research by JLL found Brisbane’s CBD vacancy rate remains around 10 per cent, well below the national average of about 15 per cent, supported by strong population growth, major infrastructure investment and a limited pipeline of new office supply.
According to CBRE, the building has maintained an average occupancy rate of 99 per cent over the past five years, with a weighted average lease expiry of almost three years.
Morrison said the asset was well positioned to benefit from Queensland’s infrastructure pipeline, with more than $127 billion of investment forecast across the state and limited new office developments expected to complete in coming years.
The listing follows Forza Capital’s listing of 200 Creek Street in 2025, another Brisbane CBD office building acquired by the group in 2021. It did not proceed to sale. Expressions of interest for 340 Adelaide Street are due to close August 18.
