The Ray White Commercial QLD and Special Projects team recently became close to charity during their successful sale of the Heart Foundation’s headquarters in Fortitude Valley through an expression of interest (EOI) for $3.65 million.

The active expressions-of-interest campaign reflected growing market interest in assets which offer short-term income plus potential for longer-term redevelopment, according to Ray White Commercial Queensland executive director Mark Creevey.

The three-level freehold office building at 557 Gregory Terrace is zoned to allow development of up to 12 storeys.

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557 Gregory Terrace, the previous Heart Foundation’s headquarters in Fortitude Valley, sold for $3.65 million through the Ray White Commercial and Special Projects teams.

“The contract of sale allows for the Heart Foundation, which occupies 80 per cent of the 1621sqm building, to lease back the premises for six months,” Mr Creevey says.

“Interest was primarily from private investment and development groups attracted by the strategic location of the asset for longer-term redevelopment,” says Mr Creevey, who managed the campaign with executive director Tony Williams and director John Dwyer.

Mr Creevey says the purchaser plans to undertake a significant refurbishment of the building.

Heart Foundation Queensland chief executive officer Stephen Vines thanked Ray White Commercial QLD for its kind gift.

Click here to view the South East Queensland Vacant Land Market Report.

“By choosing us, you are helping fund vital research into cardiovascular disease and giving hope to thousands of Australians living with the effects of stroke, blood vessel and heart disease,” Mr Vines said.

“The amazing advancements that have already been made possible through medical research shows just how much of a difference support like yours can make.

Ray White Special Projects director Mark Creevey said he could think of no better charity of choice than the Heart Foundation.

“Both Tony and myself have been touched by heart disease in our own families and so we feel very strongly about supporting the foundation as they are fighting the single biggest killer of all Australians,” Mr Creevey said.

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557 Gregory Terrace, the previous Heart Foundation’s headquarters in Fortitude Valley, sold for $3.65 million through the Ray White Commercial and Special Projects teams.

Ray White Special Projects director Tony Williams said he was delighted their donation would help the Heart Foundation’s work.

“Cardiovascular disease is one of Australia's largest health problems. Despite improvements over the last few decades, it remains one of the biggest burdens on our economy, so we are happy to help a little bit.”

Mr Vines said medical research had already led to enormous breakthroughs such as the artificial pacemaker, better diagnostic tools and more effective treatments that have saved thousands of Australian lives.

“With your support we can invest even more in vital research, health promotion and education programs which will help us continue this research for as long as we need to find the answers,” he said.

Visit the Ray White Special Projects QLD website to view all properties for sale.

This is a sponsored article.

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