This article is from the Australian Property Journal archive
A 6,128sqm Mount Gravatt site with redevelopment potential has sold for $7.5 million.
Formerly home to Photo Continental, the 1480 Logan Road property in Brisbane’s south-east was purchased by a private investor.
Ray White Commercial’s David Monaghan sold the property.
Monaghan said while the site has future development upside, the existing building currently has four tenancies and generates net rental income of $81,581 per annum, with the purchaser looking to renovate the existing building.
Monaghan said the iconic Photo Continental business had been an owner-occupier of the site back to the 1950s, but the family owned photo business closed last year.
The property comprises a 4,500sqm building and has ample car parking.
Australian Property Journal
