A former Brisbane bread factory has changed hands for the princely sum of $15.8.
The renovated factory now consists of three offices, divided by car parks and gardens, and was purchased by RG Property.
“We’re excited by the medium and long-term potential of this asset as the Fortitude Valley region continues to go from strength to strength,” RG Property chief executive Rhett Williams said.
“Securing this large landholding puts us and our investors in a strong position to capitalise on the continued growth in the Fortitude Valley market, which is emerging as a natural extension of the Brisbane CBD.”
The historic, heritage listed Keating’s Bread Factory in the inner-city suburb of Fortitude Valley was built in 1916 by Thomas Keating.
The bread shop owner sold the property, which includes stables, in 1948 to shipping company Burns Philp, which kept the bakehouse for its own use, according to the Queensland Heritage Council listing. In 1952, the expansive 5094sqm property was sold to department store Penneys which remained for 20 years.