‘Our own piece of turf’: Ray White Commercial Queensland deal secures strategic site for leading Brisbane architect Shaun Lockyer

(Source: Shaun Lockyer Architects)

Creativity, community and continuity proved to be the perfect combination to secure the sale of the Newstead property tipped to become the site of Brisbane’s best new offices.

Ray White Commercial Queensland’s Paul Anderson and Aaron Aleckson managed the $1.45 million sale of 15 Masters Street for a local vendor who had purchased the property 31 years ago.

The new owner is top Brisbane architect Shaun Lockyer, who plans to transform the 334sqm mixed-use site and turn the existing worker’s cottage into an office for his practice.

Mr Lockyer says he wanted to own his own piece of turf in the area. The site is adjacent to the previous headquarters of his firm, Shaun Lockyer Architects (SLa).

“I had sold out of my current development and wanted to remain in the area as it felt like the right place for us to continue to work from,” he says.

“The site represented a rare opportunity for us to convert a building and show what we can do for our clients, all while enjoying the central location and proximity to the Gasworks.”

Sold with vacant possession, the single-storey 76.3sqm cottage had already been converted to office space. There is a 100sqm workshop on the ground level.

Mr Anderson says the property was sold via an expressions-of-interest campaign which yielded 63 inquiries and six offers.

“The price had to be right for the vendor who purchased it some 31 years ago, so we stood off with the market until we got there,” he says.

Located at the corner of Wyatt Street, the triangular-shaped site is a short walk from the Brisbane River. The popularity of the listing did not surprise Mr Lockyer, who says he was relieved and thrilled to secure the property.

“It’s a boutique site that will not suit everyone, but we feel we can make it a very special home for us and a great little landmark in the area,” he says.

Mr Aleckson says while Mr Lockyer might have had to elbow out competition from other buyers, he has secured a great position for his business.

“These small-lot mixed-use sites are super hard to acquire in Newstead, so this will underpin growth over the medium term,” Mr Aleckson says.

The plan is to raise the cottage to create more space underneath. Renders show a modernised, extended building in monochrome tones surrounded by lawns and gardens. Retaining the existing structure as part of the project was an easy decision for Mr Lockyer.

“I am all about being logical, pragmatic and strategic which for us meant keeping the cottage and repurposing it to suit our needs,” he says.

“Work at the site is progressing well — we have all the approvals sorted and are ahead of program. Bruce Mole of TMG Builders deserves all the credit and Peter Ide of Westera Partners has worked magic for us to retain the existing structure.”

Newstead is in the midst of urban renewal, with surrounding development that includes medium to high-rise apartment complexes and warehouse-industrial facilities used by a range of businesses.

“New Farm, Teneriffe and Newstead have been the foundation of my work for 15 years and to be a part of this precinct with our new offices is very special to us,” Mr Lockyer says.

“I feel invested and accountable for what goes on around the area and I want to continue to do my part in making this area the best it can be.

“Our office is a small but still important repurposing of a unloved building into a very special home for SLa into the future and we cannot wait to show it off.

“All credit to Paul and Aaron for their work on selling this property. I would like to think we were all winners which is the best outcome you could hope for!