SOLD under the hammer Iconic Brisbane Retail Asset- A Testament to Strategic Marketing

A small retail asset at 465 Waterworks Rd, Ashgrove, home to the beloved Old Salty’s fish and chip shop for nearly 50 years, has been successfully sold at auction. The fully leased three-tenanted property attracted significant attention during the marketing campaign led by McGees Property’s Nina Brailey and Justin Clarke.

The campaign generated 40 inquiries from high-quality passive investors and small developers, resulting in competitive bidding. The property’s new owner, connected to the neighbouring dentist, secured the site with a final bid of $1.58 million. The 640 sqm site includes a 211 sqm building occupied by Niggles & Knots Remedial Massage, Old Salty’s, and Mac And Lulu Hair, with eight car parks at the rear.

This sale highlights the effectiveness of a targeted marketing strategy. “A refined marketing strategy created strong and competitive bidding for the property,” said Nina Brailey. The auction saw five registered bidders and 22 bids, ultimately leading to a successful sale. The new owner, a passive investor, now holds a valuable asset with potential development approval (DA) upside.

Nina Brailey’s expertise and strategic approach were key to this sale’s success. Her understanding of the local market and ability to attract quality investors made all the difference in achieving this remarkable outcome.