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
A 1,373sqm rectangular allotment with Principal Centre zoning, 162 Bloomfield Street is located in the heart of Central Cleveland, just 25km east of the Brisbane CBD. While the site had most recently been operating as an antique shop, it had formerly been a service station and still had underground fuel … Read more
Situated on a high-profile corner, 113 Russell Street, Cleveland had served as a workshop for over 50 years and included a mix of buildings, accommodation, and a large sealed hardstand with a fenced rear yard. The Principal Centre zoning presented a myriad of possibilities, including stand-alone commercial ventures, mixed-use developments, … Read more