News

Caboolture townhouse complex bought for $2.1M

A SUNSHINE Coast based investor has snapped up a Caboolture townhouse complex of 10 dwellings for $2.1M following a successful expressions of interest campaign at 1-10/39 Mortimer Street.

The 1,619sq m* asset offered potential buyers the chance to secure a multi-tenanted, leased investment with a high level of occupancy.

The property was marketed and sold by Ray White Commercial Queensland’s Matthew Fritzsche and Michael Feltoe.

Mr Feltoe said the vendor originally tried to sell the townhouses individually via residential channels, before approaching Ray White Commercial QLD to target high net-worth investors for an in-one-line disposal.

“Investors were attracted to the comparatively higher yield than traditional residential investments, with the final sale price of $2.1M reflecting a net yield of 5.4 per cent,” he said.

“The asset includes 8×3 bed with two-bath and 2×2 bed with two-bath, built circa 2012, and there’s no doubt this was a great investment opportunity with an annual rental income of $152,880*.”

Mr Fritzsche said the five-week expressions of interest campaign was highly competitive, with enquiries well into the triple figures.

“The modern nature of the improvements and associated depreciation benefits were appealing, and that was highlighted by the fact we had 126 enquiries in just five weeks,” he said.

“The other drawcard was the growth potential of Caboolture and the wider Moreton Bay area, with the catchment experiencing unprecedented population growth.

“The property is improved with a modern residential complex, consisting of opposite facing 2x standalone blocks of 5x side-by-side dwellings.

“It’s situated just 50 minutes* drive north of the Brisbane CBD, and less than 1km* west of the Caboolture Town Centre.”

*Approximately.

Up to Date

Latest News

  • John Dwyer Celebrates 10 Years at Ray White Commercial QLD

    John pictured with Ray White Group Managing Director Dan White Earlier this year John Dwyer marked 10 years at Ray White Commercial QLD. John, or JD as he is affectionately known to the team, has over 40 years of experience in commercial real estate. From sales and leasing to … Read more

    Read Full Post

  • Green energy stimulates Australian regional property markets

    As Australia heads towards net zero emissions by 2050 the push towards green energy has advanced many renewable energy projects across the country. Regional Australia has already benefited from this increased demand resulting in strong gains in employment, population growth, and in turn residential rents and prices have seen upward … Read more

    Read Full Post