AN OFFER two weeks before auction convinced the owners of a refurbished neighbourhood centre in Brisbane’s northern suburbs to take the money.

A Melbourne investor paid $2.91m for the centre at 8 Days Rd, Grange, which has three well-established occupiers.

Raine & Horne Commecial’s Trent Bruce, who marketed the property with Hudson Dale, said that the campaign generated more than 150 inquires. “It was hotly contested with multiple offers, “he said.

“The owners wanted to sell it prior to auction and they had three offers of which one was the successful buyer, who will keep it as a passive investment,” Mr Bruce said.

In an affluent area, the property has a high-profile position on busy roundabout.

The 862sq m site has 12 carpark spaces and the building has a net lettable area of 271sq m and a 152sq m outdoor licensed alfresco area.

It has secure leases until 2024, plus five-year options. The sale realised a yield of 4.6 per cent.

According to CoreLogic, the property last changed hands in 2016 for $2.065m.

Mr Dale said that neighbourhood centres remained one of the strongest parts of the retail sector.

“Everyone hasn’t returned to their workplace in town yet and neighbourhood centres are in the suburbs, which is why it’s pretty healthy,” Mr Dale said.


Hudson Dale and Trent Bruce at the neighbourhood centre at 8 Dyas Road, Grange