Norman Park block of flats sells over reserve

 A tightly held block of flats at Norman Park has sold for the first time in three decades.

The solid brick commercial investment fetched $1.43 million at its auction which saw nine registered bidders.

It last traded for $115,000 in 1988.

Set on 810 square metres with city views, the block comprises four two bedroom apartments, each with a car space.

They sold tenanted at a combined $1,160 a week, or $60,320 per annum. There is no body corporate therefore no body corporate fees.

Place Bulimba Sarah Hackett marketed the McIlwraith Avenue property as an 'unmissable opportunity'.