Daiken Investment Australia acquires South Brisbane office building in first Australian property acquisition as international capital targets Brisbane in lead up to 2032 Olympic Games
In a significant transaction that reflects confidence in Brisbane’s office market, the Australian arm of a Taiwanese digital health conglomerate, Daiken Investment Australia, has made its first property acquisition in the country, paying $81 million for an office building in South Brisbane.
The transaction of the 11,181sqm office building at 10 Browning Street South Brisbane was completed with Colliers’ Tony Wang, Sam Arkell and Marshall Smith representing Daiken Investment Australia on the acquisition, and MP Commercial’s Mike Walsh and Peter Court representing the vendor Forza Capital.
Daiken Investment Australia, the subsidiary of Daiken Biomedical, is part of Taiwan’s premier digital health conglomerate. Under visionary leadership, this dual-listed group has amassed a combined market capitalization exceeding AUD 1.1 billion.
The 4,564sqm freehold site comprises an 11,181sqm A-grade office building with large contiguous floorplates of up to 2,800sqm and 371 basement car parks. It also has future development upside with a code assessable height limit of 30 storeys and schemes for 580 to 700 residential apartments as part of a mixed-use development, subject to relevant approvals.
Colliers Asia Markets Director Tony Wang said capitalising on the growth cycle leading up to the Brisbane 2032 Olympics, Daiken Investment Australia has strategically set its sights on South East Queensland.
“The purchaser was attracted to the underlying fundamentals of the asset and its strategic location in South Brisbane, as well as the long-term potential of the site,” Tony Wang said.
“The acquisition marks an important first step into the Australian property market for Daiken and reflects the appeal of Brisbane’s inner-city commercial market to international investors looking for well-located assets with both income and future potential.”
MP Commercial Partner Mike Walsh said the sales campaign generated significant interest both domestically and off-shore from a wide range of parties across institutional groups, syndicators and private investors.
“10 Browning Street is a genuinely irreplaceable asset from a built-form perspective, with a car parking ratio that can never be repeated. The ability to build over the existing structure also provides significant cost efficiencies for any future redevelopment,” Mike Walsh said.
“Combining this with its current investment credentials ensured the asset was highly sought after and a perfect fit for the incoming purchaser for their maiden acquisition in Australia.”
The acquisition comes as Brisbane continues to attract increased attention from domestic and international capital, supported by major infrastructure investment, population growth and preparations for the 2032 Olympic and Paralympic Games.
Colliers Queensland Capital Markets Associate Director Sam Arkell said Brisbane’s strong population growth, compelling economic fundamentals, and significant infrastructure investment ahead of the Olympic Games positioned the asset exceptionally well for long-term value creation.
“Brisbane’s office market continues to be one of the strongest performing markets nationally, underpinned by robust rental growth, tightening vacancy rates, and sustained investor demand across both the CBD and near-city precincts,” Sam Arkell said.
“Given these fundamentals, we expect well-located assets such as this to continue attracting strong interest from both private and institutional capital seeking long-term growth opportunities.”
Daiken Investments Australia said capitalizing on the growth cycle leading up to the Brisbane 2032 Olympics, the group has strategically set its sights on the South East Queensland (SEQ) corridor. Building upon our foundation as Taiwan’s top health supplement brand and a digital ecosystem boasting over 20 million users, this massive domestic scale provides the robust financial strength and long-term vision necessary for the group’s sustained commitment to the Australian real estate market.
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