Ray White Commercial Bayside, together with Ray White Special Projects, were appointed to facilitate a Family Court ordered sale of a strategically positioned site in Cleveland CBD, close to shops, amenities and transport.
The 1,154sqm* site sat across 2 titles with dual street access and included 2 buildings which were fully leased (but the rent didn’t reflect a yield that equalled the true underlying value of the site). Our team easily identified that with flexible zoning, a CBD location and uninterrupted north-east views over Moreton Bay, this site was perfect for future redevelopment and an ideal opportunity for a savvy investor.
A structured marketing campaign was undertaken which generated considerable local and interstate enquiry, concluding in a very competitive final stage of bidding and a sale price of $2.1m. The successful buyer was a local who saw obvious value in longer-term ownership.
If you’re considering selling, buying or leasing commercial property in Brisbane’s Bayside and the South East Queensland region, call Nathan Moore at Ray White Commercial Bayside on 0413 879 428.
| Sold Date | 01/02/2020 |
| Sale Process | Expressions of Interest |
| Sale Price | $1,050,500 |
| Land Area | 1,154 sqm* |
| Building Area | 412 sqm* |
| Rental Yield | 5.9%* |
| Vendor | Miltcoe Pty Ltd |
| Purchaser | KFMT Property Pty Ltd |
* Approximately
Hugh Fletcher, Sales & Leasing Associate at Ray White Commercial Bayside, was charged with finding a new tenant for 13/685 Old Cleveland Road East, Wellington Point. The tenancy, previously a Nando’s outlet, was located in the highly successful Horizon @ Wellington Point shopping village and had been vacant for over … Read more
The award-winning sales and leasing team at Ray White Commercial Bayside sold this 9,838m² site to new owners in mid-2021. With multiple buildings and a total NLA of 1,480m², the property was subject to a number of short term leases to tenants who had been in place for an extended … Read more