NewsSome 23 investors seek out Woolloongabba retail and commercial centre which sells for $3.85 million
Some 23 investors seek out Woolloongabba retail and commercial centre which sells for $3.85 million
A convenience-based retail and commercial centre in the inner Brisbane suburb of Woolloongabba has been sold at auction for $3.85 million.
The property at 80-84 Ipswich Road, Woolloongabba, was sold by Ray White Commercial’s Mark Dann and John Dwyer under instructions from receiver and managers, Raj Khati and Morgan Lane of Worrells.
The buyer was a local investment group and the yield on the sale was 6.6%, on a passing net income.
The centre's net annual income is about $256,000 per year.
The convenience centre, anchored by Pizza Hut, NightOwl and Subway, attracted 23 registered bidders following 157 enquiries on the property from interstate as well as locally.
