Ashgrove Investment Sold for $1.2 Million

Ashgrove Investment Sold for $1.2 Million

A tenanted investment opportunity in the inner Brisbane suburb of Ashgrove has been sold by Ray White Special Projects (Qld) for $1.2 million.

The property divided into 10 self-contained flats at 85 Stewart Road, Ashgrove was sold to a Sydney investor by Andrew Burke and Matthew Fritzsche of Ray White Special Projects (Qld) on behalf of an overseas investor for a yield of 5.28 per cent.

Andrew Burke said the Queenslander style building is situated on a land area of approximately 812 sqm and the property is currently generating gross rental income of $ 63,380 per annum.

“We fielded 134 enquiries for this property which was sold post auction as a going concern,” he said.

“The strong interest received reflected a demand for commercial investment opportunities within 5km of the CBD.

“Strong amenity, low vacancy rates and limited future supply are also major attractions. The Sydney-based purchaser of the Ashgrove investment has a long term view to investing in South East Queensland. The overseas based seller was committed to another project and decided to divest.”

Matthew Fritzsche said the offering was well positioned in the popular suburb of Ashgrove and walking distance to transport, shopping cafes and restaurants.”

“Ashgrove and the surrounding suburbs are well serviced by public infrastructure and amenities including Woolworths, Aldi, Coles, multiple restaurants & cafes, medical centres and schools,” he said.

Up to Date

Latest News

  • Coffs Harbour Motel on Massive Land Parcel For Sale

    Insolvency and restructuring expert, Bill Karageozis of McLeod and Partners has appointed leading specialist brokerage firms Ray White Commercial Queensland and HTL Property to sell Coffs Motel and Villas, located at 209 Pacific Highway, Coffs Harbour. Bill Karageozis of McLeod and Partners was appointed as the Liquidator to the asset … Read more

    Read Full Post

  • 4 Reasons to Sell at the Summer Auction Day

    Take Advantage of the Strong Selling Conditions 10 of our most recent on market campaigns averaged 143.6 buyer enquiries, 8.3 registered bidders/offers, with yields as tight as 3.81% and some prices 20% above owners price expectations. These results continue to defy media headlines and market speculation. All of our Ray … Read more

    Read Full Post