Tenanted Bulimba Investment Sold for $2.1 million
A tenanted commercial outlet at the entrance to the popular Oxford Street precinct at Bulimba in Brisbane’s inner east has been sold by Ray White Commercial TradeCoast for $2.1 million.
The property leased to a boutique bar at 6/210 Oxford St, Bulimba, was sold to a private investor by Jonathon Jones of Ray White Commercial TradeCoast on behalf of a private owner for a yield of 8.5 per cent.
Jonathan Jones said the approximately 180 sqm tenancy in ‘The Avro’ complex also includes an approximately 60 sqm balcony/alfresco dining area.
“This has been a highly attractive complex for a range of tenants including Australian Skin Clinics, Coco Bliss and Paleo Café,” he said.
“Ray White Commercial TradeCoast has had a terrific connection with the building and also sold the last tenancy in the complex held by the developer. We have sold a total of $6.1 million worth of stock in this building.”
Jonathan Jones said the tenanted outlet is currently returning net rental income of $180,000 per annum.
“Investment opportunities like this are rare in this highly sought after precinct,” he said.
“The property is on a 5 + 5 year lease which commenced in December, 2015,” he said. “The unit comes with one exclusive use car park while there is also an onsite visitors parking area.”