Iconic Ascot Investment | Income With Development Potential

Property ID 1708449

- Comprises 2 retail / commercial shops returning over $100,000 p.a.* (gross) plus 4 bedroom residence
- Land area of 607m2*
- Corner location provides potential to subdivide the house from the retail component
- Prominent position two street frontage to Alexandra and Lancaster Roads
- First time offered for sale in 60* years
- Well positioned to public transport, Ascot State School, shops and overlooks Oriel Park

Auction
Friday, 25 August 2017 10:30am

Venue
Level 26, 111 Eagle Street, Brisbane Qld 4000

Open For Inspection
Saturday from 12:30pm - 1:15pm (House only)

Tony Williams 0411 822 544
Mark Creevey 0408 992 222

*approximately
**This property is being sold by Auction therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.

Ray White Special Projects (Queensland) has pleasure in offering for sale by Public Auction a 607m²* Iconic Ascot Investment with Development Potential (^STCA).

Features include:

  • First time offered for sale in 60 years
  • The holding comprises two retail / commercial tenancy areas including long standing tenants Vanilla Pod and Alma Clark Real Estate.
  • The property also includes a four (4) bedroom residence with separate street frontage and access
  • Total land area of 607m²*
  • Gross income of over $100,000 p.a. from the two tenancies with opportunity to increase rent from the four (4) bedroom house
  • Potential to subdivide the house from the retail component (^STCA)
  • Two street frontage to Alexandra and Lancaster Roads
  • Prominent corner location in the heart of one of Brisbane’s blue chip suburbs

Executive Summary and Sales Details

Address

119 Lancaster Road and 7 Alexandra Road Ascot, QLD, 4007

Land Area

607m²*

Method of Sale

The property is for sale by Public Auction to be held at Level 26, ONE ONE ONE, 111 Eagle street, Brisbane Qld on Friday 25 August 2017 at 10.30am (AEST).

The property is offered for sale on terms including a 10% deposit payable into Ray White Commercial Queensland Trust Account on the fall of the hammer with a 30 day settlement and otherwise on terms satisfactory to the Vendor.

Please note:

Any intending bidder is required to:

  • Review the Conditions of Sale by Public Auction; and
  • Execute the Bidder Registration Form to be provided to the agents prior to the Auction.

Contracts will be available from:

c/- Mark Creevey or Tony Williams
Ray White Special Projects (QLD)
Level 26, One One One,
111 Eagle Street, Brisbane Qld 4000

* approximately
^ Subject to Council Approval
# Important: Prospective purchasers conduct due diligence investigations of the property strictly at their own expense and risk, and the vendor will have no liability in relation to such expenses. Consent by the vendor to the conduct by any potential purchaser of due diligence activities or investigation will not in any circumstance be construed as a representation that the vendor will be exercising, or refraining from exercising its rights to deal with the property, or any representation that the vendor intends to contract with that potential buyer, or at all.

Ascot is located approximately 6 kilometres north east of the Brisbane CBD, and is one of Brisbane’s oldest and most prestigious residential suburbs.

The property is located at 119 Lancaster Road, Ascot QLD 4007, being situated on the south eastern corner of Lancaster & Alexandra Roads.

Surrounding development within the immediate locality predominantly comprises high quality residential dwellings, with the subject in conjunction with the adjoining property forming a character retail strip shop bounded by Alexandra Road, Lancaster Road and Abbott Street.

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Property Overview

Annexures

Auction Documents

Information Memorandum (full PDF)

The information and figures contained in this report have been provided to us by the following sources. The Parties (as defined in the Disclaimer) have not independently checked any of the information. The Parties make no comment on and give no warranty as to the accuracy of the information contained in this report which does not constitute all or any part of any offer or contract. Prospective purchasers must rely on their own enquiries. Zoning and land areas details are as provided by PDS Live and Local Municipal Councils and are subject to confirmation.

Page

Content

Source

Page 3Property OverviewBrisbane City Council / RPData
Page 8Floor PlanPrime Pixels
Page 11Location ProfileRay White
Page 12Location FeaturesGoogle Maps
Page 13Amenities MapWhereis.com.au
Annexure APhotographyPrime Pixels
Annexure BAuction Terms and ConditionsREIQ
Annexure CAuction Bidders Registration FormREIQ
Annexure DTitle SearchDepartment of Natural Resources and Mines
Annexure ESurvey PlanDepartment of Natural Resources and Mines
Annexure FSmart MapDepartment of Natural Resources and Mines
Annexure GVanilla Pod LeaseSeller
Annexure HProposed Lease – Alma Clarke Real EstateBiggs Fitzgerald Pike Solicitors
Annexure IInsurance Policy (Retail / Commercial)Steadfast NSG
Annexure JInsurance Policy (Residential house)Steadfast NSG
Annexure KRates NoticeBrisbane City Council
Annexure LUrban Utilities NoticeUrban Utilities

 

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119 Lancaster Rd and 7 Alexandra Road Ascot QLD 4007 AUS
-27.430366 153.058321