The Subject Property has a total land area of 3,618m²* with a commanding 55m* frontage to Bundall Road.
The site is improved by two tenanted front Retail Showrooms, 2 rear (1 leased/ 1 vacant) warehouses and a vacant former restaurant. The subject property has a total lettable area of 1,554m²*, of which 898m²* is currently leased (57% of total lettable area).
The leased areas provide a current holding income of $200,000.00 with leases having demolition clauses in place for redevelopment purposes.
The property is located in the Gold Coasts premier Bulky goods / showroom precinct Bundall. Masters Home Improvement is being constructed on the northern adjoining three blocks which will serve as a drawcard customer hub benefiting the Subject Property.
| Sales Analysis* | |
| Land Area: | 3,618m²* |
| Vendor: | Private Company |
| Sale Date: | 14th November 2014 |
| Enquiries: | 26 |
| Sales Process* | |
| Process: | Auction |
| Marketing Time Frame: | 4 weeks |
| Marketing Budget: | $12,290.00 |
| Sale Price: | $3,500,000 |
| Rate per square metre: | $967.38/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…