Multi-tenanted commercial asset for sale in Kenmore

A fully-tenanted commercial investment in one of Brisbane’s most desirable metropolitan suburbs is for sale via expressions of interest at 2053-2059 Moggill Road in Kenmore.

The property comprises two adjoining, refurbished buildings and is targeted at a new owner wanting a ‘set and forget’ investment.

Opposite the Kenmore School and adjacent to council’s Park ‘n’ Ride facility, these two traffic generators ensure a continuous flow of foot-traffic past the retail tenancies.

The asset is marketed by Ray White Commercial Queensland Retail Sales father and son duo Stephen and Elliot Kidd.

Mr Stephen Kidd said the multi-tenanted site provided a diversified income stream with a WALE of 3.5* years.

“The complementary tenancy mix combined with long-term tenants, some having occupied the space for up to 18 years, will particularly appeal to potential buyers,” he said.

“The tenants in-place are Brisbane West Real Estate (BWRE), Spicy Affair Restaurant, Melrose-Keys Lawyers, Masala Café and Australian Pet Welfare Foundation.

“The property provides a strong, multi-sourced income stream, and will be sold for less than $5 million.

“All tenancies at the site, except for BWRE, have been extensively refurbished in recent times and the precinct underwent a major council upgrade of footpath and landscaping.

“It’s a great opportunity for an astute investor to secure an income underpinned by security bonds and directors guarantees.”

Mr Elliot Kidd said Kenmore was an affluent suburb of Brisbane and is within the highly sought-after ‘middle ring’ and was only 9km* south-west of the CBD.

“It forms a leafy, predominantly residential suburb with a high number of professional residents and families,” he said.

“Kenmore has benefited greatly from both the Legacy Way tunnel and the Centenary Highway which provides direct access to the city via Milton Road, Coronation Drive.

“Kenmore Village is also currently undergoing expansion work so it’s a great time for a buyer to invest in the Kenmore suburb.

“It has an average income nearly 65 per cent** above the Queensland average, so it’s no surprise that over 80 percent of dwellings are owner-occupied.”

Expressions of interest close on Thursday 30 May 2019 at 4pm.

*Approximately.
^Sitewisely.
**Location IQ.