​​BERT Secures $11M Fortitude Valley HQ in Off-Market Deal amid Surging Demand in Inner Fringe ​

​​Market-leading rate highlights growing investor confidence in Brisbane’s inner-fringe​ 

Demand for quality office space in Brisbane’s inner fringe continues to surge, with the Building Employees Redundancy Trust (BERT) acquiring a high-quality Fortitude Valley commercial asset for $11 million in an off-market deal brokered by Colliers. 

The sale represents a strategic acquisition for BERT and marks one of the strongest price-per-square-metre results for fringe office assets this year. The deal reflects a land rate of $7,352/sqm and a building rate of $6,957/sqm. 

In a deal struck by Colliers Queensland Investment Services National Director Hunter Higgins, the 1,496sqm site at 73 Amelia Street Fortitude Valley was sold on behalf of a private seller. 

BERT, which has been supporting Queensland and Northern Territory building and construction industry workers since 1989, will refurbish and relocate its operations to the property. The site includes 13 on-site car parks and a high-quality existing fit-out with open plan workspaces, meeting rooms, breakout areas, and end-of-trip facilities – all just 400 metres from Fortitude Valley train station. 

Colliers Queensland Investment Services National Director Hunter Higgins said this sale presented a rare opportunity to acquire a whole building in the tightly-held and desirable area of Amelia Street, located close to the future Olympic Games precinct. 

“After identifying the property’s suitability for several active buyers in the market, we secured an agreement with the vendor to test buyer interest,” Mr Higgins said.  

“The building’s layout, location, and overall quality proved an ideal match for BERT’s needs, and they presented a compelling offer.” 

Hunter Higgins said Fortitude Valley formed part of the burgeoning Urban Renewal Precinct which was regarded as Brisbane’s most prominent and in demand commercial hub. 

“Limited new stock, persistent tenant demand, and ongoing urban regeneration are combining to support pricing and capital growth expectations in the precinct.  

“Vacancy across Brisbane’s inner fringe continues to tighten, falling to well below the 10 year average,” Hunter Higgins added.  

Colliers Queensland Researcher Pragya Sharma said vacancy across Brisbane’s Urban Renewal precinct continues to tighten, supported by steady tenant demand and a lack of new supply.  

“As of January 2025, the vacancy rate had dropped to 9.5 per cent, a notable 6.5 per cent improvement since 2021. That figure now sits well below the 10 year average of around 13 per cent and is approaching the low vacancy levels last seen back in 2012,” Pragya Sharma said.  

“Persistently high construction and financing costs, the limited pipeline of new projects has contributed to tightening market conditions, driven by strong tenant demand and constrained supply.”