BUYERS moved fast to secure a high-exposure Brisbane retail centre, with the Carina property selling in just 10 days for $6,100,000, reflecting a yield of 5.77 per cent.
The property was marketed through RWC Retail’s Michael Feltoe and Lachlan O’Keeffe in conjunction with RWC Gateway’s Marc Zietsman and Josh Jones.
After receiving multiple competitive offers within the first week of the campaign, the asset went under contract at the asking price.
Mr Feltoe said the speed of the transaction highlights the strength of buyer demand for well-located Brisbane retail assets.
“This result shows that premium retail centres with strong tenant mixes and high-profile exposure continue to attract deep competition,” he said.
“With limited supply and a tight local market, buyers are acting decisively when quality opportunities come up.”
Located at 828 Old Cleveland Road, the two-level 1,109sqm* building is anchored by BFT Gyms and comprises 11 tenancies, including eight at street level and three at the rear.
The property occupies a 1,486sqm* corner landholding in one of Brisbane’s most tightly held eastern corridors and produces a net income of $352,100 + GST per annum.
Mr Zietsman said the sale proves that persistence pays off in the current market.
“This was the third time the property had been brought to market, and this time it found its match,” he said.
“With the right strategy, audience and timing, we achieved the result our client had been waiting for. It really was a case of third time’s a charm.”
The result adds to RWC Retail and RWC Gateway’s growing track record of premium outcomes for Brisbane retail assets, underscoring ongoing confidence in the city’s investment market.
