Bulimba Site Sold for $3.58 Million

Bulimba Site Sold for $3.58 Million

A site with potential for redevelopment (STCA) at Bulimba in Brisbane’s inner east has been sold by Ray White Commercial TradeCoast for $3.58 million.

The property at 21-23 Godwin Street, Bulimba, was sold to property developer Auscan Group by Jonathon Jones and Jared Doyle of Ray White Commercial TradeCoast on behalf of a private owner.

Jonathon Jones said the approximately 1,214 sqm site currently has two warehouse/office buildings, one of approximately 462 sqm which is vacant and the other approximately 600 sqm building has a short term tenant in place.

“Auscan have bought the site as a long term hold and will look at renovating the existing vacant building with a design and construct for a tenant,” he said.

Jared Doyle said the property is in a prime Bulimba location.

“The site is adjacent to Bulimba Memorial Park just off busy Oxford Street,” he said.

“Opportunities to secure a holding like this in Bulimba are highly sought after.

“This sale is a great reflection of the strong demand we are experiencing for well-located development sites, with or without approvals.”