Agent Details
Rick Bird
Transact
Email: rbird@raywhite.com
+61 417 750 950
+61 (7) 3231 2236
Contact Agent
ALBION QLD 4010
Bunnings. hudson road, albion
ALBION QLD 4010
Property ID#: 318913
Property Type:Industrial/Warehouse
SOLD
Ray White Transact negotiated the sale of a retail building leased to Bunnings for $7.35 million on behalf of the owner ARIA Property Holdings. The property had a net rental of $576,378 per annum, reflecting a yield of 7.84%. The property was purchased in October 2004 fir $4.1 million. ARIA International sold the property in order to help fund a push into buying fire sale assests within the US. The property is within close proximity to FKP’s redevelopment of the Albion Flour Mill and is also within close proximity to the Albion Train Station. The site is afforded CBD views from the ground level. The lease to Bunnings expires in 2017. The property was attractive to potential buyers due to its future redevelopment potential. About 20 genuine inquiries were received before the sale was negotiated to two private investors from Brisbane.