Key highlights included competitive bidding on tightly held assets, strong yields as low as 4.40 and 4.77 per cent yields underpinned by national and local tenants, plus local buyers capitalising on value opportunities in established and emerging precincts.
With momentum continuing into the next quarter, RWC Pacific Group expects sustained activity from private investors, owner occupiers and developers seeking quality commercial opportunities across SEQ.
AUCTION RESULTS
1/25 Tedder Avenue, Main Beach
Sale Price: $2,680,000
Bidders: Sold prior to auction (three registered bidders one week out)
Rate: $23,304 per sqm
Yield: 4.77 per cent
Seller: Local Main Beach owner
Buyer: Local Paradise Waters family - Buyer identified long-term value in Main Beach and the strength of the light industrial tenant, with confidence the tenant would maintain the property.
Sale Price: $1,698,000
Bidders: Seven
Yield: 4.4 per cent
Tenant: F45 & Baby Care
Seller: Brisbane family
Buyer: Local investor
Commentary: Buyer recognised value in the building and covenant in a growing outer-metro market
Sale Price: $3,430,000
Bidders: Eight
Buyer: Owner occupier
Rate:
$2,286 per sqm of land
$5,893 per sqm of building
5/48 Browns Plains Road, Browns Plains
Sale Price: $12,100,000
Bidders: Six
Buyer: Rural investor
Tenant: Officeworks
Lease: Further 3 years plus options
663A Pine Ridge Road, Biggera Waters
Sale Price: $2,950,000
Bidders: 13
Seller: Brisbane family (same vendor as 3 Paul Court, Jimboomba)
Buyer: Local developer
2/183 Currumburra Road, Ashmore
Sale price: $900,000
Bidders: 6
Building Rate: $5,389/m2
Campaign: 11 inspections, 38 enquiries, three offers