12 Jun 2025
Words The Hotel Conversation

Brisbane high-rise management rights trio sold – ResortBrokers

ResortBrokers’ Director Alex Cook has settled the sale in one line of three premium inner-Brisbane management rights businesses: Art House, Lucid and Spire Residences.

The off-market transaction totalling more than $16 million saw the management rights change hands to one of the industry’s most experienced operators, CLLIX Apartments and Hotels. The $16 million sale price included freehold real estate by way of a manager’s office in each building.

Built by Consolidated Properties, the 40-storey, 340-apartment Spire Residences occupies a prime position in Queen Street in Brisbane’s CBD. The 28-storey, 187-apartment Art House and 30-storey, 167-apartment Lucid, where built by Mirvac and occupy the same street in South Brisbane, across from the CBD.

“Together, these three premium businesses presented an incredible opportunity to acquire first-rate, large-scale management rights in inner-city Brisbane that present excellent growth opportunities and ideally fit into the CLLIX portfolio,” says ResortBrokers’ Director Alex Cook.

Mr Cook has transacted some of the largest management rights deals in the country. His success has earned him two of the highest industry awards: REIQ’s 2023 Commercial Salesperson of the Year and ARAMA’s 2023 Broker of the Year. END