A freestanding retail building located on Wynnum Road at Cannon Hill has sold for over $4 million, which has seen a local developer secure the parcel.
Colliers agent Tony Wang and Lioncorp Commercials agent Robert Lov sold the purpose-built 502sqm space to a local property investor during a competitive off-market expressions of interest campaign.
Colliers Asia markets expert, Tony Wang said, “the purchaser, a local Asian investor, was attracted to the opportunity due to the premium location and future development upside.”
“Local and interstate investors, particularly in Asia markets are extremely active in Queensland, driven by widespread investment into public infrastructure and continued population growth.”
The premium, blue-chip centre anchored by a well-established international tenant Domino’s Pizza and three other local tenants including a Brisbane City Councillor, Laundromat and Super Vape Store plus approx. 195m² vacancy with a WALE of 2.67 years by income.
This comes off the back of a $1.6 million sale of strata office at 2740 Logan Road, Eight Mile Plains, negotiated by Colliers agents Tony Wang and Nick Wedge.
Ideally positioned in one of South-East Queensland’s most highly sought-after commercial office parks developed by OPD, the sale realised a capital value rate of $4,364/m² (NLA).
The unit has been masterfully designed catering to a functional two tenancy split of 155sqm and 239sqm with high quality fit-out and strong car parking ratios.
Colliers has seen strong demand for commercial opportunities from international investors who are taking a long-term view in the face of geopolitical and macroeconomic uncertainty.
“Colliers was able to leverage our Asia Markets’ and National Strata Markets’ teams’ reach, identify and
secure a successful outcome for the client,” Said Tony Wang. “The purchaser was attracted to the opportunity due to the premium location and strong car parking ratios, intends to owner-occupier tenancy 2 while correcting rent from Tenancy 1,” said Nick Wedge
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