Foreign investors eye off Qld

Foreign investors eye off Qld

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Staff Reporter

International investors are eyeing off commercial property in Queensland, with office buildings attracting Middle East interests, according to Ray White.

Ray White Commercial Queensland agent Damian McMahon said a two level office building on a 906 sqm block at 53 Brisbane Road, Ipswich was sold at auction for $541,500.

Mr McMahon said there had been strong interest in the Brisbane Road property with 55 enquiries, five inspections and six registered bidders at the auction.

He said there was also keen overseas and interstate interest in the investment opportunity.

"The property offered a large site in a prominent position in the Brisbane to Ipswich commercial corridor," Mr McMahon said.

"There are long term tenants in the 275 sqm office in local legal firm Morrisons Lawyers, which is paying rent of more than $54,000 per annum.

"We had enquiries from the Middle East, the United States and one potential purchaser flew in from Sydney to inspect the property and attend the auction."

Meanwhile Abu Dhabi-based buyer Vicki Aronis secured the commercial property by bidding over the phone.

"Vicki had been looking for an investment property and she was very enthusiastic about 53 Brisbane Road because of the long term tenant and due to the fact that the site lends itself to future development subject to council approval," Mr McMahon said.

 

Staff Reporter

International investors are eyeing off commercial property in Queensland, with office buildings attracting Middle East interests, according to Ray White.

Ray White Commercial Queensland agent Damian McMahon said a two level office building on a 906 sqm block at 53 Brisbane Road, Ipswich was sold at auction for $541,500.

Mr McMahon said there had been strong interest in the Brisbane Road property with 55 enquiries, five inspections and six registered bidders at the auction.

He said there was also keen overseas and interstate interest in the investment opportunity.

"The property offered a large site in a prominent position in the Brisbane to Ipswich commercial corridor," Mr McMahon said.

"There are long term tenants in the 275 sqm office in local legal firm Morrisons Lawyers, which is paying rent of more than $54,000 per annum.

"We had enquiries from the Middle East, the United States and one potential purchaser flew in from Sydney to inspect the property and attend the auction."

Meanwhile Abu Dhabi-based buyer Vicki Aronis secured the commercial property by bidding over the phone.

"Vicki had been looking for an investment property and she was very enthusiastic about 53 Brisbane Road because of the long term tenant and due to the fact that the site lends itself to future development subject to council approval," Mr McMahon said.

 

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