Our client, a vendor based abroad, was challenged by local tax laws and felt it was a good time to exit the Australian property market and retire gracefully in NZ. He appointed Ray White Commercial Bayside to conduct an Expressions of Interest campaign to sell the land-rich parcel.
The property, a cornerstone piece of the Capalaba Town Centre puzzle, provided an enormous 5,659sqm* site with three road frontages and an existing 1,764sqm* refurbished building with three long-term leases in place.
With in-depth local knowledge that the area is poised for redevelopment and that the site itself forms part of the Principal Centre zone allowing for multi-level, mixed-use development, Nathan Moore (Director) and Jonathon Burrowes (Sales & Leasing Agent) understood the latent value in the property for positive investors and took the property fully to market.
The comprehensive campaign generated multiple offers with the successful buyer submitting the best combination of price and terms. The new owners are a local family who purchased the property for $7.25m and have clear intent for its future.
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 | 20/04/2021 |
| Sale Process | Private Treaty |
| Sale Price | $7.25m |
| Land Area | 5,659 sqm* |
| Building Area | 1,764 sqm* |
| Rental Yield | 6.0%* |
| Vendor | Capalaba Village Pty Ltd |
| Purchaser | Redlands Cold Storage Pty Ltd |
* Approximately
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