Ipswich Motor Dealership Investment Sold for $9.8 Million
An Ipswich investment opportunity anchored by a long-term tenancy to a prominent motor dealership has been sold at auction by Ray White Commercial Gold Coast for $9.8 million.
The prominently positioned 6,616 sqm corner site at 34-44 Brisbane Road, Ebbw Vale, was sold to a private investor by Michael Willems of Ray White Commercial Gold Coast on behalf of a private owner for a yield of 6.85 per cent.
Michael Willems said the Bremer Ford site attracted 115 enquiries and there were eight registered bidders at the in-room auction held at the Gold Coast Turf Club.
“This property attracted considerable interest as it offered an outstanding opportunity to secure a prominently positioned site with an established tenant along the busy Brisbane Road.,” he said.
“The property had a brand new 10-year triple net lease in place with two x five year options that could see the lease potentially remain active until June 2036.
“The annual net rent is $672,000 paid by Q Automotive Group; a well-established Queensland car dealership group which owns Bremer Ford and four other dealerships across the state.”
Michael Willems said property investors are keen for opportunities in Ipswich which has become one of South-East Queensland’s fastest growing areas.
“The Ipswich region is benefitting from significant investment in infrastructure and strong economic and employment growth,” he said.