The subject property consists of a 2 level freehold building that consists of 146m² (73m²* downstairs and 73m²* office upstairs)
The building is currently tenanted on a monthly basis by a hairdresser at ground level and the upstairs level is occupied by an office whose main business is in telemarketing. Currently rented on very conservative rents, the opportunity exists for ample upside with the income return potential or else being that both tenants are on month by month rental agreements, the opportunity exists for an owner occupier to take possession of the entire building or part of.
The subject property is superbly positioned in a prime location of the recently upgraded Chinatown precinct of the Southport CBD. The premises is further closely located within 60m* of a light rail station.
With the new Chinatown revitalisation of Davenport Street, this is a perfect opportunity to secure a small entry level, freehold opportunity in a superbly located position.
| Sales Analysis* | |
| Net Lettable Area: | 146m²* |
| Vendor: | Private Company |
| Sale Date: | 14 October 2014 |
| Enquiries: | 11 |
| Sales Process* | |
| Process: | Auction |
| Marketing Time Frame: | 4 weeks |
| Marketing Budget: | $6,701.00 |
| Sales Price: | $690,000 |
| Rate per square metre: | $4726.00/m² |
*approx
The subject property underwent a valuation process, which resulted in setting the reserve price at $2,150,000. A well-executed marketing campaign and robust competition during the auction led to the property’s sale at an outstanding price of $4,300,000, which is double the reserve. The property, situated on Morayfield Road, serves as … Read more
Ray White as exclusive agent is pleased to offer for sale the freehold interest in 99 George Street, Beenleigh QLD…