Case Studies

40-44 Middle Street, Cleveland

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.

Sales Analysis

Sold Date01/02/2020
Sale ProcessExpressions of Interest
Sale Price$1,050,500
Land Area1,154 sqm*
Building Area412 sqm*
Rental Yield5.9%*
VendorMiltcoe Pty Ltd
PurchaserKFMT Property Pty Ltd

* Approximately

0
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