I am delighted to share the successful sale of three strata units in a health and wellness centre located at 100-102 Donald Road, Redland Bay. The units were sold for $1.95 million to a Sydney-based investor after being passed in at auction. My colleague Harry Tsigounis and I facilitated the sale on behalf of Kosmos Health.
Our auction campaign generated significant interest, with 58 inquiries from potential buyers. However, we did not reach the desired result at auction. Instead, we entered private negotiations with multiple parties, ultimately securing the best outcome with this buyer.
The property offers a total net lettable area of 504 square metres, with Units 1 and 2 tenanted by Merak GF Cafe. The larger Unit 7 is occupied by Visage Dental & Dermal Studio, Physio on Bayside, and BFS Australia Gym. The tenancy mix ensures a steady income stream, with a weighted average lease expiry (WALE) of just under three years.
The property was sold with a yield of 6.15 percent, reflecting its appeal as a solid investment in a growing area.
- Gross Income: $162,984.35 per annum
- Net Lettable Area: 504 square metres across three strata lots
- Tenants: Four tenants
- WALE: 2.915 years (as of June 2022)
Investment Features:
- Fully tenanted health and wellness centre with strong income stream.
- Flexibility to purchase as a single investment or split into two opportunities.
Location Highlights:
- Situated in Redland Bay, a rapidly growing suburb within Redland City Council, east of Brisbane City.
- Positioned near Cleveland Redland Bay Road, providing easy access and visibility.
- Area features robust population growth, sporting amenities, and scenic foreshore trails.
- Located south of Victoria Point and east of Mount Cotton.
This transaction highlights the demand for well-leased assets in thriving precincts, even in a competitive market. It was a pleasure to deliver a great outcome for our client and a promising opportunity for the buyer.
Interested in selling? Contact me here
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
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