QLD Top 5: Wrap up a Guzman Y Gomez outlet
Retail properties are flying in the sunshine state, with three of Queensland’s most viewed commercial properties of the week coming from the asset class.
With fast food among the best-performing retail assets throughout the COVID-19 pandemic, a space leased to Mexican food chain Guzman y Gomez in inner-city Fortitude Valley was close to the top of investors’ menus.
The property at Emporium at 1000 Ann Street features a seven-year lease to the burrito brand, with a further seven-year option and 4% annual rent increases.
Positioned on a high-traffic corner site, the shop returns $185,602 annually, plus outgoings and GST.
Here are the other Queensland properties making waves this week:
BP leads the way for third straight week
134-136 Blackstone Road, Silkstone
The BP at Silkstone in Queensland.
A BP service station is still up for grabs after being among Queensland’s most-viewed commercial properties three weeks running.
Considered among the market’s most resilient asset classes throughout the COVID-19 pandemic, service stations continue to draw strong interest, with the Silkstone property tapping into that demand.
Featuring a strong lease covenant, the property is tenanted to a BP operator until 2030, with another four five-year options, while an accompanying mechanical workshop makes up 5.6% of the property’s rental income and is on a five-year lease, expiring in September 2024.
It is listed with a $4.55 million price tag.
Big interest in small industrial space
8/14-16 Ramly Drive, Burleigh Heads
The Burleigh Heads industrial property.
Agents describe this simple industrial warehouse in Burleigh Heads as a “hot commodity”, and potential buyers agree.
The 81sqm property, which also includes a 50sqm mezzanine level, has a glass entry space, office/reception area, is offered with vacant possession, giving the purchaser the opportunity to move in or rent it out.
It is on the market for $315,000.
Investors sink teeth into inner-city dentist
117 Warry Street, Fortitude Valley
117 Warry St, Fortitude Valley.
Home to a popular dentist for the past 15 years, this Fortitude Valley property could give an investor plenty of reasons to smile.
Less than 1km from the Brisbane CBD, the property returns $99,000 plus outgoings and GST, and has 326sqm of floor area across two buildings, along with eight parking spaces.
With medical investments considered blue-chip stock in the current commercial property climate, potential buyers are expected to compete strongly throughout the expressions of interest campaign.
Double your income at Noosa Heads retail
18/18 Hastings Street, Noosa Heads
The Noosa Heads property is home to Acai Nation.
Buy this Noosa Heads shop and you’ll be securing not only a space on a prime retail strip, but also the potential to more than double its income almost immediately.
Split into two tenancies, the Hastings St premises is partially leased to Acai Nation, while the other space is untenanted, presenting the opportunity to occupy or lease it out.
Currently returning $87,000 per annum, the property has a potential fully leased income of $190,000.
Positioned just 80 metres from Noosa’s main beach, the property is being sold via public auction on September 25.
