SOLD - Capalaba (Brisbane) - Trophy Officeworks Investment - Renewed 8 Year Lease

Cushman & Wakefield is pleased to present to the market 92-94 Redland Bay Road, Capalaba (Brisbane) for Sale via Auction.

The property has the following key characteristics:

• Renewed 8 year lease to 2027 + options
• Officeworks Ltd - Wholly owned Subsidiary of ASX listed Wesfarmers Ltd, Australia’s 7th largest company with Revenues of $30.8 Billion
• Impeccably maintained building purpose built in 2004, having undergone recent Capex incl. full repaint
• High profile 4,856 sqm site offering 45 car parks, truck delivery bay & exposure to 43,000+ vehicles per day
• Redland Bay Road - Capalaba retail mecca located 17 km from Brisbane CBD, trade catchment of 170,000+
• Officeworks experiencing significant sales growth of 27.8% for the first 5 months of 2020 - 167 stores nationally
• First time offered to the market
• Tenant pays all usual outgoings (excl. Land Tax)
• Minimum 2.62% annual rent increases
• Net Income $431,278 pa + GST (as at October 2020)

The property is for sale by way of Cushman & Wakefield Investment Auction. The Auction will be conducted on Wednesday 16 September at 11am at Cooley Auctions, located on Level 1, 29-33 Bay Street, Double Bay NSW.

Prospective purchasers and interested parties will have access to remote bidding facilities in both Brisbane and Melbourne.

Should you have interest in bidding on the property from one of these locations, please liaise with the exclusive agents.