Christian Outreach Centre Expands Property Portfolio
Christian Outreach Centre has continued its foray in the South East Queensland commercial property market with the purchase of a full floor of an office complex at Springwood in Brisbane’s south for $1.5 million.
Christian Outreach Centre Investment Services purchased the property through Mark Dann of Ray White Commercial Queensland and John De Martini of Ray White Commercial Springwood.
Mark Dann said the Brisbane arm of the Christian Outreach centre required a southside location for church- based activities and this property offered the ideal location and parking requirements.
“Additionally, the incumbent business in the complex offered cash flow possibilities,” he said.
John De Martini said Christian Outreach Centre was a major real estate investor and had acquired a portfolio of more than 30 properties throughout South East Queensland.
He said Christian Outreach Centre had recently sold two warehouse/office units at 61 Holdsworth Street, Coorparoo, in Brisbane’s south through Ray White Commercial for more than $1.25 million.
“Through the course of the sales process at Springwood, we were approached by the Christina Outreach Centre to sell their current administration units located in Holdsworth St, Coorparoo, to merge their administration with church activities,” he said.
“We sold a 454 sqm unit on their behalf for $825,000 and a 275 sqm for $426,500.”
COC Investment Services Manager Peter Geizer said: “We placed our Coorparoo property on the market expecting it would be some months before securing sales at our price point. We are very pleased the marketing took weeks not months which allowed us to secure further property on the Pacific Highway at Springwood. The work undertaken by John De Martini and Mark Dann from Ray White proved to be effective and professional which delivered the results we were looking for.”