SOLD
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Blue-Chip Inner City Freehold Investment

18 Proe Street, Newstead QLD

Property Highlights

Secure 10 Year Lease to 2028
Fixed 3.5% annual rent increases
1.2km from Brisbane CBD
Register to Bid

Description

+ Long term 10 year lease to 2028 plus option to 2033
+ Annual, fixed, compounding 3.5% rent increases
+ Tenant pays all usual outgoings excluding land tax
+ Industry Bean: iconic coffee wholesaler/retailer and café network with 6 key metro sites in Melbourne, Sydney & Brisbane
+ Irreplaceable 603 sqm landholding with significant development upside (STCA)
+ Impressive 641 sqm building including mezzanine level with recent innovative capital-intensive tenant fit out – circa $2.5million
+ Strategic location in the heart of Newstead (Brisbane’s thriving inner city), ideally positioned between the popular Gasworks Shopping Centre servicing 2,267 workers and over 9,300 residents and the iconic James Street Retail Precinct (Fortitude Valley)
+ James Street retail features a diverse mix of over 110 specialty stores, located one kilometre from Brisbane’s CBD, evolving into one of Australia’s leading retail, fashion and lifestyle districts
+ Newstead/Teneriffe: One of the fastest growing regions within Brisbane with an estimated 55% of the working population under 35 years of age**
+ Estimated Net Rent: $210,163 pa

For Sale by Investment Portfolio Auction
10:30am (AEDT) Wednesday 31 March 2021

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Cafe
Land Size
603 SQM
Building Area
641 SQM

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