This article is from the Australian Property Journal archive
THREE investment properties across Brisbane were sold at auction recently for a total of $6.265 million.
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Ray White Commercial senior director auctions and investments Richard Impiombato said one property sold prior to auction, another was sold under the hammer and the third one sold post-auction.
The top price was $3.15 million for a warehouse/office complex at Garbutt in Townsville. It was marketed by Ray White Commercial Townsville Principal Graeme Russell. The complex was sold prior to auction for a yield of 8.38% and the purchaser was a Sydney-based investor.
A 224 sqm freehold retail property at Brassall near Ipswich leased to Woolworths attracted 10 registered bidders before being knocked down for $1.29 million on a 6.2% yield.
“Bidding started at $850,000 and there was a spirited tussle between three interested parties before the successful final bid of $1.29 million,” Impiombato said.
Finally a partially tenanted retail freehold at Morayfield on Brisbane’s northern outskirts sold post-auction on behalf of a mortgagee for $1.825 million.
Australian Property Journal
