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$2.25m Redcliffe commercial sale

A 2,423 square metre commercial property located at 307 Great Eastern Highway has sold for $2.25 million in an off-market transaction. The property consists of a 2,424sq m office/showroom warehouse currently leased to the Sunbeam Corporation Pty Ltd facing Great Eastern Highway, and a further office/warehouse of 1,200sq m facing Epsom Avenue, which was leased to Thornton Cross Pty Ltd after the unconditional sale. Selling agent Colliers International commercial and industrial sales executive Anthony Vulinovich said the sale reflected an initial yield of approximately 6 per cent, however the post-contract lease with Thornton Cross increased the yield to over 6 per cent.

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