News

Bidding frenzy as Capalaba building smashes $2M at auction

By Aaron Hivon
TWELVE registered bidders battled it out as a freestanding showroom building in Capalaba, that opened with a bid of $900,000, eventually sold for $2.05M at 96 Redland Bay Road.

The asset, that came with a 430sq m* building area and 809sq m* site area, went under the hammer on-site and was sold as vacant possession.

The property was marketed and sold by Ray White Commercial Bayside Director Nathan Moore.

Mr Moore said there was a large amount of interest throughout the campaign and the final selling price highlighted the opportunity that was on offer.

“It really was a cracking auction with twelve registered bidders producing 26 bids between them, with the hammer falling more than $1M above the starting bid,” he said.

“The asset sold well above its reserve price and the lucky winning bidder was an investor with other holdings on Redland Bay Road.

“The property is a well located, well maintained retail showroom in the heart of Capalaba’s retail showroom strip.

“Being smaller than many other holdings on Redland Bay Road made it an opportunity for both investors and owner occupiers alike.

“The property is a semi‐modern large format retail building that was constructed circa mid-1980’s and is set on a reinforced concrete slab with a painted face brick façade, masonry block side, and rear external walls and a sheet metal roof.

“The building includes an aluminium framed glass shopfront and a high bay roll steel shutter door to the front, providing access to the internal accommodation area. The building has a suspended grid ceiling with recessed lighting and ducted air conditioning throughout.

“As a freestanding building, the site also benefits from its own car park and tower signage as well as separate male and female amenities and a small staff kitchenette, making the asset move-in ready.”

*Approximately.

Up to Date

Latest News

  • Periodic Property Inspections & Maintenance Obligations

    Conducting routine on-site inspections of commercial buildings is always a good idea. It provides an opportunity to promote positive communication between landlord and tenant, and to see how the property is being maintained. Equally important, it’s an opportunity to identify any areas of general deterioration that would benefit from proactive … Read more

    Read Full Post

  • Top Tips for Tax Time 2022

    The Australian Taxation Office (ATO) has released key focus areas for 2021/22 including: Record keeping Property income and deductions Capital gains from crypto assets, property sales, and shares Commercial property owners could benefit from taking a few simple steps. Record Keeping Having organised income and deduction records will make for … Read more

    Read Full Post