The Redcliffe Tavern north of Brisbane has been sold for $15 million

The Redcliffe Tavern, prominently positioned in the commercial heart of the Redcliffe peninsular, north of Brisbane, has been sold for $15 million.

The off-market sale, on behalf of the private investor from Melbourne, was negotiated by Jon Tyson and Peter Tyson of Savills Retail Sales.

The property, comprising a modern freestanding tavern and First Choice Liquor Superstore, was acquired by a private investor on a yield of approximately 6%.

Peter Tyson said the property is leased to Liquorland (Qld) Pty Ltd, the major liquor division of Coles Group Ltd, on a 20-year lease to 2029 with two further 10-year options,” he said. 

The Redcliffe Tavernwas developed in circa 2009 on a 2,498sq m site at 32 Anzac Avenue, Redcliffe, approximately 28km north of the Brisbane CBD. 

It was bought in 2014 for $11.5 million on a yield of 7.27 per cent.