NO TENANT REQUIRED AT ALDERLEY 20-11-15
A STRATA-TITLED office/showroom on Brisbane’s northside has sold for $1.75 million as the trend of tenants opting to owner-occupy continues to gain momentum.
The vacant 525sqm property at 1/33 South Pine Rd, Alderley, has been snapped up to accommodate a body corporate administration business. Raine & Horne Commercial’s Trent Bruce and Hudson Dale negotiated the deal post-auction.
Mr Bruce said the buyer had initially considered leasing options across the northside.
“Definitely, there’s an increasing number of tenants weighing up the owner-occupier option in the prevailing low interest rate environment,” he said. “Particularly in the sub $3 million price bracket, which is very active.”
Mr Dale said despite attracting a handful of registered bidders on auction day the property was passed in at $1.45million.
“We managed to obtain a couple of further offers thereafter along with the subsequent buyer,” he said. “After running them through a number of leasing options, including the subject property, we were able to convert the lease inquiry into a purchase
“It ticked a lot of boxes for them and once they reviewed the numbers based on the current low interest rate environment it just made sense and was an easy decision.”
The property is opposite a future Coles redevelopment and included a substantial existing office fitout and 10 undercover car parking spaces.
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