227-229 Brisbane Street Ipswich, QLD 4305

Positioned within Ipswich's tightly held Top of Town precinct, the Old Flour Mill at 227-229 Brisbane Street presents a rare opportunity to secure a fully leased, multi-tenanted commercial asset with strong underlying income and long-term upside.

Set across a prominent heritage-listed building, the property comprises of 19 tenancies spanning retail, commercial and residential uses, all currently leased, delivering immediate and diversified income from day one.

Key Investment Highlights:

• 19 tenancies - 100% occupancy
• Gross Income approx. $218,838 + GST
• Consistent 3% annual rent increases across multiple leases.
• Diverse tenancy mix reducing reliance on any single occupant.
• Multi-level building with lift access servicing the lower 3 levels.
• Recent capital works completed (roof, stormwater, amenities, courtyard)
• High-exposure position within Ipswich CBD's "Top of Town" precinct
• Strong foot traffic driven by café and lifestyle tenancies

Originally constructed in the early 1900s and thoughtfully upgraded over time, the Old Flour Mill blends heritage character with modern functionality. Extensive improvements completed between 2019 and 2025 have significantly enhanced the building's usability, accessibility, and long-term performance.

With major capital works now complete, the property offers a stable income base with potential to further enhance returns through continued tenancy optimisation, rental growth, and activation of remaining underutilised areas.

The existing mix of retail, hospitality, and service-based tenants has established the property as a destination within the precinct, with scope to build on this momentum.

Opportunities to acquire a fully stabilised, income-producing heritage asset of this scale within Ipswich's CBD are exceptionally rare. The Old Flour Mill represents a compelling combination of character, income security, and future potential.