Tenanted office building in Gold Coast snapped up for $4.8 million

Tenanted office building in Gold Coast snapped up for $4.8 million
Staff ReporterSeptember 12, 2016

A largely tenanted office building in the Gold Coast suburb of Bundall recently sold for $4.8 million.

The office at 91 Upton Street has a good mix of tenants on various leases, according to the property’s description.

The freehold property, which is leased almost 90 percent, earns a net income of $338,742.41 p.a. plus GST and has the potential to earn $392,742.41* p.a once fully let out.

The building has a net lettable area of 1,555 sqm and was recently upgraded.

The selling agent was Michael Willems of Ray White Commercial.

Editor's Picks

Reddam House North Shore opening to lure families to North Sydney
Woolworths to sell another prime Brisbane development site with apartment approval
TOGA's vision for building vibrant new community precincts across Sydney
Latent Defects Insurance 101: How off the plan developers and buyers both benefit from Resilience Insurance LDI
The Regent Fitzroy: Where architecture and lifestyle combine