29/01/2010 - Gympie Road Properties in Demand
Courier Mail Prime Site - 29/01/2010
Dual success by Raine & Horne agents has resulted in the sale of two Gympie Rd properties totaling $2.88 million.
The first property offered at 449 Gympie Road, Kedron went under the hammer for $1.28 million.
It was bought by a private investor.
The 1,242sqm vacant block of land has development approval for a two storey office complex.
The second property to sell was at 794 Gympie Road, Chermside.
It was initially taken to Auction but did not sell and was eventually sold to an owner-occupier for $1.6 million.
That property included a two storey freestanding office building of 468sqm on a 382sqm block. It was sold one day after Auction by agents Hudson Dale & Trent Bruce, of Raine & Horne Commercial, who marketed both properties.
“The high profile position of the property holds excellent potential for substantial future capital growth, Mr Dale said.
"(This) helped the successful purchaser commit to an unconditional deal”.
Mr Bruce said commercial sites along the Gympie Rd strip did not become available often and he received calls every day from people looking to buy.
"Properties positioned on the Gympie Rd corridor are still in extremely high demand," he said.
" We received a strong level of inquiry throughout both campaigns that was largely due to the basic property fundamental of position, position, position," Mr Bruce said.
For further information, contact Marketing Agents Trent Bruce - 0423 591 528 or Hudson Dale - 0423 591 529