A commercial building with high profile, long term tenants in the Wynnum CBD on Brisbane’s bayside has been sold by Ray White Commercial for $1.68million.
The property at 100 Edith Street, Wynnum, was sold pre-auction to an owner-occupier by Ray White Commercial Bayside directors Nathan Moore and Michael Keddy.
Nathan Moore said the property boasts the Queensland government and the Australian Red Cross as long term tenants.
“We had solid interest in this free-standing multi-tenanted building which is situated in a desirable location in the heart of Wynnum’s urban renewal precinct,” he said.
“The property was scheduled to go to auction but the owner accepted an offer prior to auction.”
Michael Keddy said the building offers 547 sqm of lettable area plus rear undercover parking on a 215 sqm commercially zoned site.
“The property is currently returning a nett rental income of approximately $128,000 per annum, plus the vacant tenancy” he said.
“There’s a vacant 202 sqm tenancy in the building which offers an opportunity for further rental income or to owner-occupy.
“The site also represents the minimum area criteria for future multi-story redevelopment within the Wynnum CBD (STCA).”
Wynnum is located on the shores of Moreton Bay and is approximately 16km east of the Brisbane CBD.