Northside Brisbane Investment Sold

24 February, 2016 / Steve Black
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Northside Brisbane Investment Sold

A tenanted investment opportunity in a freestanding commercial building at Zillmere on Brisbane’s northside has been sold by Ray White Commercial for $800,000.

The property at 75 Dunsford Street, Zillmere, was sold to a local investor by Steve Black and Juma Marstella of Ray White Commercial Pine Rivers on behalf of a local owner for a yield of approximately 7.8 per cent.

Steve Black said the approximately 200 sqm building is occupied by two tenants and is returning net rental of approximately $63,000 per annum.

“The building is on a land area of approximately 590 sqm and is leased to a long term pizza parlour operator and a government funded housing organisation,” he said.

“We had plenty of interest in this offering from investors seeking opportunities in the sub $1 million market.”

Juma Marstella said both of the current tenants are on three year leases.

“The site is ideally located in Zillmere, which is approximately 14km north of the Brisbane CBD,” he said