Two individual adjacent freestanding office buildings in South Brisbane have sold as a package deal to a Brisbane-based organisation.

The properties located on Peel Street were offered for sale through exclusive agents Gregory Woods and Robert Dunne of Savills.

Associate Director of Savills Commercial Sales Gregory Woods said the campaign attracted solid interest with 81 enquiries fielded from both developers and local businesses due to the near-city location and strong redevelopment prospects.

Mr Woods said the new owners beat four other bidders to secure the properties, and intend to refurbish and occupy one building, and lease out the adjoining property.

“The properties presented an attractive opportunity for owner occupiers, with the added opportunity to generate rental income from the second building.

“The new owner can do this all whilst maintaining a medium term redevelopment play with the Principle Centre zoning providing a 10 storey height limit,” Mr Woods said.

The properties total a combined site area of 910sq m, with each property covering 455sq m and offering a net lettable area of 360sq m and 313sq m respectively.

Industry sources can confirm a sale price of over $4 million.