Commercial building with 5 bedroom house sells in bluechip suburb for $1.5 million30 January 2024
In a sign of continued investor interest in inner city commercial property, a 607 sqm lot with a residence and commercial building has sold for $1,525,000, in a deal negotiated after auction.
Transacted by Colliers Queensland agents Philip O’Dwyer and Harry Higgins, 900 Sandgate Road Clayfield was sold under instructions from Grant Thornton as the Receivers and Managers of KOVA Clayfield Pty Ltd.
Colliers Queensland Associate Director Investment Services Philip O’Dwyer said after a successful sales campaign with considerable interest the successful buyer was ultimately an interstate renewable energy contractor.
“This site offered a great opportunity for this renewable energy contractor to acquire the freehold property as a base to launch their business into the Queensland market,” Philip O’Dwyer said.
“Located in a prime tightly held Clayfield location with a Sandgate Road frontage and immediate vacant possession, this offered a fantastic opportunity for a motivated buyer.”
Colliers Queensland Investment Services Executive Harry Higgins said the property generated substantial interest within the real estate market, with a notable influx of potential buyers.
“The prime location played a pivotal role in attracting a considerable number of interested parties. Clayfield is renowned for its blend of residential charm and commercial convenience, making it an appealing destination for both homeowners and investors,” Harry Higgins said.
“The heightened demand can be attributed to the property’s strategic position, offering proximity to essential amenities, transportation hubs, and a vibrant local community.
“The transaction reflects the confidence buyers have in the potential uses and future development of the site, making it a noteworthy transaction,” Harry Higgins added.