Investors are showing an increased appetite for assets in the growth corridor south of Brisbane.
A fully-leased, 434 sqm modern strata-titled office at 58 Manila Street, Beenleigh has sold for $1.52 million on an impressive 10.43 per cent yield.
Tenanted to Logan City Council since 2013, the contemporary property was snapped up days before it was due to go under the hammer at Burgess Rawsons’s first flagship auction of 2019.
It boasts a secure lease until 2022 plus options to extend, as well as 14 car parking spaces.
Burgess Rawson sales and leasing executive Craig Chapman said the buyers hd snared a strong investment in an up-and-coming business district.
“Situated minutes from the Pacific Highway within the Corridor Business Centre in Beenleigh’s CBD, the location alone is tempting for investors,” he said.
“When you couple that with the suburb’s growth and site’s high yield, you have a fantastic long-term investment.
“This investor really is getting ahead of the market trend here – many businesses are choosing to set up in Beenleigh due to its convenient distance to neighbouring regional commercial hubs such as Brisbane and the Gold Coast, making it a very sensible location for investors to build their portfolio.”
The asset generates income of $158,487 a year net plus GST.
To find out more about the properties in our portfolio, and how we can help you with sales, leasing and property management services, please contact us.
Written by Phil Bartsch, Courier Mail