This property was a single tenanted retail investment with a 2 year lease to a high end hair salon.
The marketing campaign received 157 enquiries and 12 formal offers ranging from $650,000 to $922,500 from local, interstate and overseas investors. The successful party was a private investor from NSW who acquired the asset for $922,500. With only 7 months remaining on the lease, we achieved a 29.5% premium on the 2015 sale of the same sized neighbouring property that was sold
with a longer lease.
The sale reflects a building sale rate of $10,483/ sqm, one of the highest sale rates in the suburb.
Interstate investors are continuing to invest in the Sunshine state with the view that South East Queensland, in particular, continues to offer outstanding value on a risk-adjusted return basis.
|Buyer:||NSW Private Investor|
|Method of Sale:||Expression of Interest|
|Sale Date:||November 2017|