30/10/2009 - Milton on up and up
Courier Mail Prime Site - 30/10/2009
Commercial properties close to the Brisbane CBD with a price tag between $2 million and $5 million are in demand.
In a recent deal, Kyle Rae and Trent Bruce of Raine & Horne Commercial secured a $2.75 million sale of a multi-tenanted retail and commercial site at 2 Baroona Road, Milton.
Mr Bruce said the sub $5 million price bracket was definitely in high demand. Mr Rae said there were 48 inquiries received throughout the marketing campaign, predominantly from investors searching for a quality investment in a central location.
The 620sq m block in Milton's commercial precinct has a freestanding building with a total floor space of 680sq m including 18 covered carparks.
The building is leased to five separate tenants on various lease terms and provides a total net return of about $230,000 a year, which equates to a net yield of 8.4 per cent.
Milton's commercial district is a popular city-fringe area generating demand for retail and office tenants.
For further information, contact Marketing Agents Trent Bruce - 0423 591 528 or Kyle Rae - 0423 591 536