Tenanted Commercial Unit in Morningside Sold
A tenanted strata unit in Morningside in Brisbane’s eastern suburbs has been sold for $410,000.
The property at 5/47 Steel Place, Morningside, was sold to a private investor by Sean O’Connor of Ray White Industrial Milton in conjunction with Tim Langford of Wright Property Group on behalf of a private vendor for a yield of 7.5 per cent.
Sean O’Connor said the property has a building area of approximately 180 sqm and holds a well-established commercial design tenancy.
“The unit is tilt panel construction and resides within a fully-gated complex with duel driveway entry, and includes an air-conditioned office over two levels and container height roller doors,” he said.
“It is currently leased to Hospitality Design & Concept, who specialise in commercial fitout solutions for hospitals, offices, gyms, cafes and restaurants.
“It returns approximately $30,075 net rental per annum with all outgoings paid by the tenant and has two years remaining on the tenancy agreement.”
Mr Langford said the property was located in a prime site in Morningside’s industrial precinct.
“Morningside is a thriving commercial hub, located minutes from Murarrie and Hemmant, two of Brisbane’s most progressive industrial suburbs,” he said.
“The site is situated in close proximity to Lytton Road and the Gateway Motorway, which links to both the Pacific Motorway and Bruce Highway and provides direct access to the Gold Coast and Sunshine Coast respectively.”
Morningside is approximately 10km east of the Brisbane CBD.