“The significant net income of $126,963.43 + GST + outgoings p.a. really appealed, and the final sale price reflected a yield of 8.6 per cent.
“Autobarn takes advantage of the exposure to surrounding major retailers such as Gladstone Central Centre, Gladstone Cinema, NightOwl and KFC.”
Mr Marshall said the opportunity at 4/174 Goondoon Street was too good to miss and the purchaser wasn’t willing to allow the property to go to auction.
“We had 52 enquiries throughout the campaign and these materialized into four offers being received prior to the auction,” Mr Marshall said.
“People were particularly drawn by the brand-new leases with options that were in place, and the sale price reflected a nine per cent yield.
“The national businesses take advantage of the exposure to surrounding major retailers like Gladstone Square Shopping Centre, Woolworths, and multiple government agencies.”