10 investors seek Windsor, Brisbane apartment offering

A Windsor offering comprising four two-bedroom flats and two one-bedroom flats sold at recent auction for $2,410,000. There were 10 Brisbane bidders at the auction which prompted its sale at 25 per cent above reserve through Ray White Special projects agents Matthew Fritzsche and Andrew Burke. The 885sqm site has development approved for a four-lot subdivision with freehold title houses. The property received 150 enquiries prior to auction. Burke noted flats and boarding houses that tended to transact in the sub-$5 million category were sought after by ‘Mum and Dad’ or first time investors. “Blocks of flats as an investment class are seeing benefit from Brisbane having one of the tightest rental markets nationwide, with a vacancy rate of 1.30 per cent recorded for May 2021,” he said.