Industrial Investment with Significant Development Upside

RWC Bayside is pleased to present 74 & 76 Andrew Street, Wynnum to market For Sale via Expressions of Interest closing Thursday 10 October 2024 at 4pm.

Offered for sale in one-line, 74 & 76 Andrew Street represents a unique opportunity for investors, developers and owner-occupiers alike.

The site consists of 6 industrial premises in total with a Nett Lettable Area of 1,154sqm*, on a total land area of 1,808sqm* over 2 titles.

74 Andrew Street is a freestanding metal clad industrial premises with 490sqm* under roof, and a 51sqm* side yard.

76 Andrew Street is comprised of 5 small industrial premises sized between 115sqm* and 125sqm*, a common driveway area with 2-gate drive-thru access, and 6 car parks.

All units are currently leased, with a WALE of 1.88* years and a nett income of $175,000 excl GST pa.

This site could be purchased as a simple set-and-forget tenanted investment providing steady secure cashflow from a well settled group of local tenants.

Alternatively, this site was rezoned to 'High Density Residential' in 2014 allowing for apartment developments up to 25* metres/8 storeys^ under the local Wynnum town plan. The latest lease expiry is August 2027, which gives prospective developers ample time to put together a scheme and get approvals, while having strong cashflow in the short-term.

Lastly, unit 5 is on a month-to-month lease giving owner-occupiers the chance to take up this space themselves, with the ability to expand their footprint in the future.

Features include:
- Fully tenanted 1,808sqm* site with 1,154sqm* NLA over 2 titles
- 1.88* year WALE with $175,000 nett annual income excl outgoings and GST
- Low vacancy periods due to high leasing demand
- Significant development upside potential with 'High Density Residential' zoning
- Town plan allows for 25m*/8 storeys^
- Could be developed as soon as late-2027
- Unit 5 could be used by owner-occupiers

For Sale by Expressions of Interest closing Thursday 10 October 2024, 4pm.

For more information contact exclusive agents Benn Woods and Nathan Moore of RWC Bayside.

* Approximately
^ Subject to Council approval

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