A fully tenanted commercial building in the Wynnum CBD on Brisbane’s bayside has been sold by Ray White Commercial Bayside for $1.48million.
The property opposite Wynnum Railway Station at 143 Tingal Road, was sold to a private investor by Ray White Commercial Bayside Directors Nathan Moore and Michael Keddy for a yield of 8.25 per cent.
Nathan Moore said the building has a strong mix of long term government and business tenants and was sold fully leased.
“Ray White Commercial has retained the management of the building with the new owners,” he said.
“The property is currently occupied by MaxNetwork, Australian Hearing, Australian Water Association Ltd, Cartridge World and Horizon Foundation.”
Michael Keddy said the property offers approximately 495 sqm of lettable area on a 800 sqm commercially zoned site.
“This property is on a prime site opposite the train station in the heart of Wynnum’s urban renewal precinct,” he said.
Wynnum is located on the shores of Moreton Bay and is approximately 16km east of the Brisbane CBD.