A 2,579smq retail site in Brisbane’s southwest has sold for more than $5 million in a competitive off-market sale, which has seen an interstate investor secure the parcel.
Colliers Associate Director Asia Markets and Investment Services Tony Wang facilitated the sale of the highly sought-after investment.
Mr Wang said there was a great amount of interest from both local and interstate investors looking to get their hands on positive gearing investment opportunities such as 163 Alawoona Street.
“A retail centre of this nature – anchored by well-established national and local tenants – was expected to be a competitive sale,” Mr Wang said.
“The sites positioning in the master planned community, Fernbrooke Ridge developed by LandLease, provides long term security.
“The buyer was attracted to the opportunity due to the premium location as one of the fastest growing and most innovative areas in Queensland with multiple master planned community developments in the area.”
163 Alawoona Street presents a weighted average lease expiry (WALE) of just over two years with a 5.03 per cent yield and generous depreciation scheme.
The property offers a 491smq freestanding neighbourhood retail centre on a 2,579sqm site, located 32km southwest of Brisbane.
Prominently positioned in a master planned community, the site offers abundant onsite parking and well-established tenants including a Night Owl, bakery, barber, and take- away options.
Sold off market, settlement closed 27 April 2022.
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