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$3,999,000 (8.33%) : New Farm Value Add Investment

599 Brunswick Street, NEW FARM QLD, 4005

Sold

Property Sold in 599 Brunswick Street, NEW FARM QLD, 4005

Ray White Commercial Qld

Level 26, 111 Eagle Street (GPO Box 2433), Brisbane, QLD 4001

Listing ID:
11369405
Status:
Sold
Price:
$3,999,000
Last Updated:
11/02/2020
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Property Type

Retail/Offices/Showrooms/Bulky Goods
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Land Area

830 SQM
Icon size

Floor Area

953 SQM
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Parking

20

$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

For more details, please email agent


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Ray White Commercial Qld

Level 26, 111 Eagle Street (GPO Box 2433), Brisbane, QLD 4001


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