Tenanted Retail Property at Wynnum Sold for $4.1 Million
A commercial building with long term retail tenants on a prominent corner position in the Wynnum CBD on Brisbane’s bayside has been sold by Ray White Commercial for $4.1 million.
The property at 136 Edith Street, Wynnum, was sold to an owner-occupier by Ray White Commercial Bayside’s Nathan Moore and Abe Crowther on behalf of a private family seller.
Nathan Moore said the property has a nett lettable area of approximately 943 sqm and boasts Subway and a Bottlemart among its tenants.
“We had solid interest in this multi-tenanted commercial complex which is on the highest profile corner in the Wynnum CBD opposite Coles Supermarket, 7/Eleven Fuels and adjacent to the recently completed Centrelink,” Mr Moore said.
“There are four tenancies in the double story complex which is on a business-zoned site of approximately 2,015 sqm.
“The property offers potential net income of approximately $292,600 per annum plus GST.”
Abe Crowther said the property was formerly a Commonwealth Bank site.
“The site meets the minimum area criteria for future multi-story redevelopment (STCA) within the Wynnum CBD,” he said.
Wynnum is located on the shores of Moreton Bay and is approximately 16km east of the Brisbane CBD.