Hawthorne, Brisbane retail complex sparks auction bidding war

A tightly contested auction for a fully leased retail building at Hawthorne in Brisbane’s inner east saw it sell under the hammer for $1.43 million.

After a total of 26 bids, the building, at 135 Riding Road, was finally sold to a local investor, on a yield of about of 6.9%.

Jonathon Jones of Ray White Commercial negotiated the sale. He said the building attracted 47 enquiries and eight registered bidders at the auction,” he said.

Mr Jones said the complex has five income producing tenancies providing a net income of approximately $98,765 per annum.