A freestanding commercial property in Brisbane’s north has sold for $2.3 million following a competitive Expressions of Interest (EOI) campaign.
The property at 1264 Sandgate Road in Nundah, situated within the thriving Nundah Village precinct around eight kilometres from the Brisbane CBD, consists of a 456sq m building with consulting accommodation across two levels on a 506sq m landholding.
It is fully leased to Headspace, a government-funded national mental health provider, until November 2027.
The property was purchased by Gupta Invest Go Pty Ltd on an unconditional basis in a deal negotiated by Knight Frank agents Jacob Heinke and Hayden Ryan on behalf of the vendor, a private investor.
It was sold at a yield of 5.48%, with the property having a net income of $126,000 per year plus GST.
Mr Heinke said the EOI campaign for the property attracted significant interest from a range of owner occupiers and investors, based both locally and interstate.
“A total of 45 enquiries were received, resulting in several formal bids,” he said.
“Properties that offer secure income are very attractive to buyers in the current market.
“This Nundah asset was particularly appealing to investors given it has a government-backed tenant supported by strong healthcare demand driven by demographic trends. Headspace has occupied the property since 2011.
“Commercial assets in this precinct are rarely traded due to limited supply and high demand with many marked for future residential developments.
“With an A-Grade internal fit out throughout, the property is well-positioned to thrive in a strengthening market.”
Mr Ryan said the Sandgate Road property was situated on a very busy main road, within a booming growth precinct in Brisbane’s north.
“Renowned for its strong residential appeal and vibrant village atmosphere, Nundah benefits from
its proximity to key employment hubs, Brisbane Airport, and major transport infrastructure, reinforcing its status as a highly desirable location for both occupiers and investors,” he said.
“The suburb continues to experience sustained demand driven by population growth, urban renewal, and its accessibility within the broader Brisbane metropolitan area.
“At the heart of the suburb, Nundah Village functions as a thriving mixed-use precinct, anchored by a diverse range of cafés, restaurants, specialty retail, professional services, and essential amenities.
“This property also offered future potential value add through expansion, with the property having a maximum developable height of three storeys, as well as rental reversion.”
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