Retail strata shop sells for $485,000 in Shailer Park, Brisbane
A 70 square metre retail strata shop in Brisbane's southern suburb of Shailer Park has sold for $485,000.
The sale price reflected a yield of more than 9%.
A local small business owner purchased the property, at 10/46 Bryants Road, which is leased to long-term tenant - tutoring service provider Fruition Tuition. The shop sits within a complex of 20 tenancies with no vacancies.
The selling agent was Silvio Bevacqua of Ray White Commercial Springwood.
Mr Bevacqua said “the current rental return is $44,350 per annum with the tenant paying all the outgoings so the sale represents a very solid net yield of 9.14% to the local investor seller.”
He said the sale showed the growing demand from buyers currently in the south-east Queensland property investment market with the current investor demand exceeding supply in most areas.
“We do not expect this to slow down solid results any time soon and with the potential for continued lower interest rates we would expect this trend will only strengthen," said Mr Bevacqua.