‘MAKE AN OFFER’: Retail complex in boom suburb hits market
The seller of a fully-tenanted commercial property is calling for all offers
Property
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A MULTI tenanted commercial complex in the heart of Springfield is up for sale, with potential buyers invited to make an offer.
With a floor area of 356 sqm, 24 Commercial Dr, Springfield spans a 1304 sqm plot of land.
Springfield Pool and Spa Supplies, which moved into the complex in 2003, has operated from the property since it was built.
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Representing the sale, real estate agent Aron Burtenshaw said the owner was ready to downsize but, due to the competitive market, had chosen not to specify a price.
“When you’re in a seller’s market, like we are at the moment, stock is competitive,” Aron said.
Hitting the market on Monday morning, the property has already drawn plenty of attention, particularly from investors.
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“Commercial yields are compressing – it’s pretty competitive at the moment because of interest rates and how low they are,” he said.
“The uncertainty with what’s happening in the world has sort of fuelled that. I think people see greater Brisbane real estate as safe as we’ve probably fared better than a lot of other places in Covid.”
Expressions of interest will close on April 1.
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