Menu
CloseBayside
Loading...
Contact Us
Sold
Industrial/Warehouse

74 & 76 Andrew Street Wynnum, QLD 4178

Sold for $2,900,000 on 13 Nov 2024
  • Building: 1,103m²
  • Land: 1,808m²
Agents

Sold By

  • Loading...
  • Loading...

Industrial/Warehouse in Wynnum

Industrial Investment with Significant Development Upside

  • Building: 1,103m²
  • Land: 1,808m²

RWC Bayside is pleased to present 74 & 76 Andrew Street, Wynnum to market For Sale via Expressions of Interest closing Thursday 10 October 2024 at 4pm.

Offered for sale in one-line, 74 & 76 Andrew Street represents a unique opportunity for investors, developers and owner-occupiers alike.

The site consists of 6 industrial premises in total with a Nett Lettable Area of 1,154sqm*, on a total land area of 1,808sqm* over 2 titles.

74 Andrew Street is a freestanding metal clad industrial premises with 490sqm* under roof, and a 51sqm* side yard.

76 Andrew Street is comprised of 5 small industrial premises sized between 115sqm* and 125sqm*, a common driveway area with 2-gate drive-thru access, and 6 car parks.

All units are currently leased, with a WALE of 1.88* years and a nett income of $175,000 excl GST pa.

This site could be purchased as a simple set-and-forget tenanted investment providing steady secure cashflow from a well settled group of local tenants.

Alternatively, this site was rezoned to 'High Density Residential' in 2014 allowing for apartment developments up to 25* metres/8 storeys^ under the local Wynnum town plan. The latest lease expiry is August 2027, which gives prospective developers ample time to put together a scheme and get approvals, while having strong cashflow in the short-term.

Lastly, unit 5 is on a month-to-month lease giving owner-occupiers the chance to take up this space themselves, with the ability to expand their footprint in the future.

Features include:

  • Fully tenanted 1,808sqm* site with 1,154sqm* NLA over 2 titles
  • 1.88* year WALE with $175,000 nett annual income excl outgoings and GST
  • Low vacancy periods due to high leasing demand
  • Significant development upside potential with 'High Density Residential' zoning
  • Town plan allows for 25m*/8 storeys^
  • Could be developed as soon as late-2027
  • Unit 5 could be used by owner-occupiers

For Sale by Expressions of Interest closing Thursday 10 October 2024, 4pm.

For more information contact exclusive agents Benn Woods and Nathan Moore of RWC Bayside.

* Approximately
^ Subject to Council approval

Building:

1,103m²

Land:

1,808m² / 0.45 acres

Zone:

High Density Residential

Tenancy:

Tenanted

Categories:

Industrial/Warehouse, Land/Development

Share:

Investment Information

Tenancy Status:

Fully Tenanted

Estimated Gross Yield:

N/A (Marketed Without Price)

Estimated Nett Yield:

N/A (Marketed Without Price)

Title Scheme:

Torrens Title

* Total annual expenses are based upon information provided by the vendor. They exclude potential costs that will vary according to the purchaser. Excluded costs include, but are not limited to, management and leasing fees, marketing costs, repairs and maintenance.

All provided figures are estimates and should not be relied upon by a purchaser. The returns are not guaranteed. Further disclaimers apply

* Total annual expenses are based upon information provided by the vendor. They exclude potential costs that will vary according to the purchaser. Excluded costs include, but are not limited to, management and leasing fees, marketing costs, repairs and maintenance.

All provided figures are estimates and should not be relied upon by a purchaser. The returns are not guaranteed. Further disclaimers apply

74 & 76 Andrew Street, Wynnum, QLD 4178