Wavell Heights Commercial Building Sold for $2.3 Million
A free standing commercial building at Wavell Heights in Brisbane’s north has been sold by Ray White Commercial for $2.3 million.
The vacant building on a 1500 sqm land area at 156 Hamilton Road, Wavell Heights, was sold to a private investor by Steve Black and Juma Marstella of Ray White Commercial Pine Rivers on behalf of a private investor.
Steve Black said the rarely offered 300 sqm retail property is adjacent to the Chermside retail hub and has tremendous development potential.
“The purchaser is looking at refurbishing the building and then securing tenants for the property,” Steve Black said.
“There was strong interest in this property given its location on the border with Chermside.
“The investor liked the potential in the property and its location.”
Steve Black said the expected rental on the refurbished property will be approximately $600 per sqm per annum.
Wavell Heights is located approximately 9km north of the Brisbane CBD.