$3,999,000 (8.33%) : New Farm Value Add Investment
Ray White Commercial (QLD) are pleased to exclusively offer 599 Brunswick Street, New Farm QLD for Sale.
599 Brunswick Street represents the opportunity to acquire a truly unique mixed use investment with multiple value add opportunities. Located on Brisbane's CBD doorstep, "New Farm is officially Brisbane's most expensive suburb, with a median house price of $1.7 million" (Domain, November 19).
Key Investment Attributes:
Irreplaceable high profile 830sqm* corner site.
953sqm* three level building with 20 car parks (1:48sqm).
Diversified income stream with a complimentary mix of retail, office and 16 one-bedroom board house.
High levels of exposure to over 12,700 cars passing daily**.
Affluent precinct with household income levels 46% above the QLD average^.
Code assessable to 4* storeys (zoned DC1 District Centre).
Guaranteed income growth with 4% annual increases.
Current passing net income of $231,026* + GST p.a.
Fully leased net income of $333,326* + GST p.a.
Value Add Opportunities:
Invest capex or redevelop to secure high quality tenants at increased rents.
Increase net income by leasing 20sqm to digital signboard company who offered $22,000 +GST pa on a 10-year lease.
Refurbish boarding house level into office space.
Selling down the strata titled lots individually.
*Approximately
**Sitewisely
^Location IQ
599 Brunswick Street represents the opportunity to acquire a truly unique mixed use investment with multiple value add opportunities. Located on Brisbane's CBD doorstep, "New Farm is officially Brisbane's most expensive suburb, with a median house price of $1.7 million" (Domain, November 19).
Key Investment Attributes:
Irreplaceable high profile 830sqm* corner site.
953sqm* three level building with 20 car parks (1:48sqm).
Diversified income stream with a complimentary mix of retail, office and 16 one-bedroom board house.
High levels of exposure to over 12,700 cars passing daily**.
Affluent precinct with household income levels 46% above the QLD average^.
Code assessable to 4* storeys (zoned DC1 District Centre).
Guaranteed income growth with 4% annual increases.
Current passing net income of $231,026* + GST p.a.
Fully leased net income of $333,326* + GST p.a.
Value Add Opportunities:
Invest capex or redevelop to secure high quality tenants at increased rents.
Increase net income by leasing 20sqm to digital signboard company who offered $22,000 +GST pa on a 10-year lease.
Refurbish boarding house level into office space.
Selling down the strata titled lots individually.
*Approximately
**Sitewisely
^Location IQ