Invest Logan sells Cinderella Drive for more than$4M to not-for-profit supporting women and families

The Centre for Women & Co purchase new site to support families.

A 3 storey commercial property in Springwood has been transacted on behalf of invest Logan for $4,070,000 to a not-for-profit organisation that educates, supports and empowers women and their families across the Redlands and Logan region, The Centre for Women & Co.

Following a competitive expressions of interest process, the 805sqm freehold centre zoned property located at 8 Cinderella Drive in Springwood was transacted by Colliers Queensland agent Philip O’Dwyer.

The property includes a 838sqm high-end office with a modern fit-out in place, 21 undercover carparks, full accessibility compliance, solar power and natural light. It offers easy access to Brisbane CBD, Brisbane Airport and the Gold Coast, located within a short walk to coffee shops, restaurants and the South East Busway interchange station.

Colliers Queensland Investment Services Associate Director Philip O’Dwyer said after a successful sales campaign with strong engagement from owner occupiers and investors, the buyer was ultimately a local not-for-profit that gave back to the community.

“This property was attractive to buyers due to the central location that offered a high-end corporate facility as well as parking and natural light in an area in high demand,” Philip O’Dwyer said.

“It also offers the opportunity for passive income with the 68sqm ground floor tenancy leased out to an accounting firm, providing a holding income for the purchaser.

“While the 790sqm over levels 1 and 2 are available to be refitted and either occupied or further leased out.
“The prime location played a pivotal role in attracting a considerable number of interested parties, with Springwood located 21 kilometres from Brisbane and opposite Arndale Shopping Centre.

“Significant construction cost escalation has placed a very real premium on the value of existing buildings of this standard,” Philip O’Dwyer added.

The City of Logan’s independent investment company, investLogan, developed the 3-storey office building in 2018 as part of a broader property asset portfolio. The Cinderella Drive property was offered for sale following Council’s decision to divest all assets held by investLogan as it winds down operations.