Last commercial land parcel at Capalaba sells for $3 million

Media release - 6th September, 2013

Rare offering in retail hub snapped up prior to auction

  • Rare parcel of land on Redland Bay Road, Capalaba sells for $3 million
  • The property was sold by an ex-farmer to a local owner-occupier
  • Redland Bay Road is a favourite retail precinct with a shortage of quality showroom space

 

A rare parcel of commercial land at Capalaba, in Brisbane’s east, recently sold a day prior to auction for $3 million.

184-186 Redland Bay Road, CapalabaThe valuable 2.5 acre parcel located at 184-186 Redland Bay Road, Capalaba, sold above expectations, and was the last remaining block from a 70 to 80 acre agricultural subdivision, owned by a local businessman and farmer.

“The property was secured by a high-profile local owner-occupier who had his work cut out to secure the property, as we had 30 genuine enquiries from businesses and investors,” says Kevin Murdock, Director, Raine & Horne Commercial Bayside, who sold the property in conjunction with his colleague Colin Tucker.

“Capalaba is a popular retail hub which is home to virtually every major retail brand and this property was a rare opportunity to buy a stake in the heart of this popular commercial precinct.”

Capalaba is also a major industrial hub offering easy accessibility to major South East Queensland regions including the Brisbane CBD, Port of Brisbane, Gold Coast, Sunshine Coast and Ipswich.

Selling agents Kevin Murdock (L) and Colin Tucker

Mr Tucker says, “Road networks into the area continue to improve and the site can easily be accessed from through roads such as Moreton Bay Road and Old Cleveland Road.

“As a consequence, for up to 95% of the time, vacancy rates on Redland Bay Road are zero and the significant interest in this property was a result of the fact that there is a shortage of space for prime retail showroom space.

“This property comes with a huge 75 metre frontage onto Redland Bay Road and has exposure to over 20,000 passing vehicles every day.”

 

For further media information contact:

Kevin Murdock, Raine & Horne Commercial Bayside on 0411 171 112

Andrew Harrington, National Marketing & Communications Coordinator on 02 9258 5400

Why Raine & Horne Commercial?

Our full-service commercial real estate network can provide in-depth knowledge of local and regional property markets, with insight and understanding that comes from being a part of a long-established national and international property group. Committed to personalised service and achieving unsurpassed results, our clients continue to benefit from our network strength, which allows substantial cross-flow of international referral, advice and investment.

The Raine & Horne Commercial network is comprised of 100% owner-managed offices and includes numerous industry leaders and award winners. We employ agents who are empowered, encouraged to share and who maintain first rate communication to deliver the best possible outcome with every transaction. We pride ourselves on staying abreast of local and national trends and developments in the property industry, resulting in consistently cutting-edge services and holistic solutions for our clients.

Our industry experts embody and respect the family-oriented values synonymous with the Raine & Horne Commercial brand, allowing us to provide a complete range of professional services for all aspects of commercial, industrial, retail sales, leasing and specialist properties.