CBD bank, hair dresser, travel agent in million-dollar hot property

GLADSTONE city's Commonwealth Bank site is looking hotter than ever as it attracts the eyes and purses of offshore and interstate investors to Goondoon St.

LJ Hooker has listed 81 Goondoon St, where Commonwealth Bank, Uber Hair and Hello World are, for sale.

GLADSTONE city's Commonwealth Bank site is looking hotter than ever as it attracts the eyes and purses of offshore and interstate investors to Goondoon St.

This month LJ Hooker listed 81 Goondoon St for sale, the area that Commonwealth Bank, Hello World and Uber Hair call home.

Gladstone's topsy turvy property market will be put straight when investors consider the long-term benefits of the property that rakes in $174,000 in rent from the three tenants each year.

LJ Hooker special projects manager Keir Kreis said it was a unique listing because it had a dream tenant in one of Australia's big four banks that post solid profits every year.

The present owners, a syndicate of Sydney property developers, are re-allocating their assets and in the process selling off some properties.

Since listing the 481sqm property 11 days ago, Mr Kreis and LJ Hooker Gladstone's Tony Lloyd Jones have had inquiries from interstate and Asian investors.

81 Goondoon St

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"It's definitely rare because (properties involving banks) are tightly held by investors, given the strength of the tenant and the certainty they provide," he said.

"The Commonwealth Bank isn't a business that suffers the ups and downs.

"This is a very big and important buy, it could form the corner stone of someone's investment portfolio."

The property is listed under a private treaty, meaning a price has not been set.

Mr Kreis declined to reveal what he thinks the property will fetch, but hinted it would sell for more than $2 million with a yield of about 7%.

The Gladstone-based agent is confident it will sell in six weeks to an investor hunting for "rock solid" tenants.

Mr Kreis, who personally owns a commercial building at 169 Goodoon St, said the sale would show the value of a good tenant.

"Good businesses and good properties will stand the test of time," he said.

"Thai Basement is our tenant and they started up in April 2014 and they've powered on for the past three years," he said.

"They've done exceptionally well and now they've signed on for another three years."

The sale is pivoted on Commonwealth Bank being a major tenant, an Australia-wide company that is the largest by the way of market capitalisation with $146 billion as of May 5 this year.

Originally published as CBD bank, hair dresser, travel agent in million-dollar hot property