The transformation of Caboolture’s main street and CBD continues, with the recent sale of 9 King Street. Chris Massie and Ashley Rees negotiated the sale on behalf of the owner who was originally looking to lease, but long-term vacancy prompted the sale when the right offer hit the table.
The 411m2 freehold building was purchased by Moreton Eye Group as part of their continued expansion in the region. While the unique layout of the former bank building proved problematic in re-leasing, the key features of location and on-site parking perfectly met the buyer’s needs.
This is the latest in a string of CBD sales completed by Chris and Ashley that has resulted in over $7m of properties selling or going under contract. Increasing activity from government funded tenants and reduced vacancy is expected to continue putting upward pressure on both sale and leasing rates in the area.
• Property type: Commercial Office
• Listing type: Lease to Sale
• Marketing Spend: $1,220
• Sale date: 15 Aug 2018
• Sale price $1,360,700.00
• Building size: 411m2
• Land size: 831m2
0412 490 840
0411 707 410
• Agents comments
“Low interest rates continue to fuel the owner-occupier market, with low stock levels prompting sale offers on lease stock”