INTL. INVESTOR BUYS LOGAN PROPERTY

Written on the 2 May 2014 by Laura Daquino

INTL. INVESTOR BUYS LOGAN PROPERTY AN INTERNATIONAL investor has snatched up a large commercial building at Shailer Park for $2.03 million.

The listing of the 220 square-metre building at 2 Leda Drive attracted more than 90 local and international inquiries and was sold for a 5.8 per cent yield.

It was sold by Ray White Retail in conjunction with Chesterton International, with Richard Impiombato conducting the auction in a competitive climate of 158 separate bids.

“The purchaser is indicative of investors seeking secure assets with a long term lease in strategic premium locations which in turn provide stability in the current market,” says Impiombato.

Ray White Retail’s Mark Greer said the brand name long term tenant of Red Rooster in the building was an attractive drawcard, as well its positioning between the Logan Hyperdome and Hyperdome Home Centre.

“There was strong interest in this property which Red Rooster last year leased for another 10 years and is returning net rental of approximately $118,000 per annum with Red Rooster having a lease option of 5 + 5  years,” says Greer.

The property was sold at a Ray White Corporate auction at the Riverside Centre in Brisbane CBD along with another commercial listing.



Author: Laura Daquino Connect via: Twitter LinkedIn

Latest News

BABY STEPS FOR BELLAMY'S IN TURNAROUND

GREEN shoots are appearing in the Bellamy's Organic (ASX: BAL) business in the early days of its turnaround.

T...

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so...

LOSSES MOUNT AT SLATER AND GORDON

SLATER and Gordon's losses continue to mount following its disastrous entry in to the UK market. The compa...

NVC PLAYS A DIFFERENT GAME, AND WINS

AS its profits rise, National Veterinary Care's (ASX: NVL) focus on training over retail is proving to be a wi...

Related News

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so...

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter