Millinium to give the Waltons Building a new lease of life

Millinium to give the Waltons Building a new lease of life

The Waltons Building in Fortitude Valley may be sold to Millinium Capital Managers for between $25 million and $50 million.

The property, located at 240 Brunswick Street and 11 Overells Lane, will be used for a mixed used property development.

Known as the Waltons Building, the property comprises several interconnected buildings above the Fortitude Valley train station and has been held by the same owner for 35 years.

Millinium was attracted to the property because of its proximity to the Fortitude Valley precinct currently undergoing a transformation and the neighbouring $500 million Valley Metro development.

Further, the property is nearby luxury retail and is just 20 minutes from Brisbane Airport.

Millinium says that post-development the property will be a major commercial, residential and retail precinct.

Development is due to commence by the end of 2019.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Subscribe Now!
Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Generous perks equals happy workers? Not always. Here’s what employees really want

Generous perks equals happy workers? Not always. Here’s what employees really want

Many Australian companies offer a range of benefits and perks to wo...

Fable leans in to mushrooms over ‘plant-based’, strikes deals from Wagamama UK to Zeus Street Greek

Fable leans in to mushrooms over ‘plant-based’, strikes deals from Wagamama UK to Zeus Street Greek

If there is a lesson to be learned from Fable Food Co for the ventu...

G’day Group boosts holiday park assets to $1.5b after buying Margaret River’s Taunton Farm

G’day Group boosts holiday park assets to $1.5b after buying Margaret River’s Taunton Farm

Regional tourism company G’day Group has expanded its Discove...

IAG slapped with class action amid claims algorithms targeted loyal customers

IAG slapped with class action amid claims algorithms targeted loyal customers

Insurance Australia Group (ASX: IAG) has been slapped with a class ...