13/02/09 - Geebung Sheds Sold For $1.3m Before Auction

A commercial property at Geebung has changed hands in a deal worth $1.3 million.

The property at 5 Basalt Street was taken to market late last year by Lawrence Temple of Raine & Horne Commercial.

Mr Temple said it was initially offered for sale through auction but that generated a high level of interest and resulted in it selling before the auction date.

The 2,024sqm general industry site houses two freestanding industrial sheds made of metal clad walls and roof, which offer a total of 1,087sqm of building. There is a concrete parking area on the site and compacted blue steel hardstand and landscaping.

Mr Temple said the property was sold as a going concern which offers a net return of $114,000 a year plus outgoings and GST.

For further information, contact Marketing Agent Lawrence Temple on 0423 591 534.