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 the primary thoroughfare through Morayfield, offering unobstructed and convenient access to the Bruce Highway. The site was tenanted by “Hudson Hardware,” and with only 16 months remaining on the lease, presented a compelling opportunity for developers seeking to secure the first property upon entering Morayfield and Caboolture. Alternatively, investors could leverage the property’s potential to negotiate a new long-term lease with the current tenant.
17 March 2022
$11,618.00 (GST Inclusive)
|Marketing period||4 weeks|
|Rate per sq m||$531/m²*|
0438 451 112 | firstname.lastname@example.org
Ray White Commercial Gold Coast