An interstate investor has snapped up a Clontarf retail investment for  $1,280,000 within 40 hours of it being presented for sale, showing the huge demand from interstate investors for stable defensive assets in South East Queensland. 

Transacted through a targeted off-market process by Colliers Queensland Asia Markets agents Tony Wang and Shaun Seeto on behalf of a local Asian developer, the site consists of the 178sqm ground  floor of the Seavue Apartments located at 80 Hornibrook Esplanade, Clontarf. 

Colliers Asia Markets Queensland Director Tony Wang said the property was presented to a few investors who had indicated interest in SEQ commercial assets, with the successful offer made within  40 hours of presenting the investment for sale. 

“The purchaser was attracted to the yield and the stability of the tenants, who have been operating in  the building since it opened in 2014,” Tony Wang said. 

“The fully leased asset offered a secure investment with long-term tenants including well known local café The Drowned Rat Espresso as well as DCS Management, a strata management company."

“They have both been operating in the building since the property was completed, offering a stable  investment with a WALE of 3 years,” Tony Wang added. 

Colliers Queensland Investment Services Senior Executive Shaun Seeto said the asset offered investors a great opportunity, offering a retail space with sweeping ocean views in a thriving bayside area. 

“Selling for a yield of 6.9 per cent, the asset is located directly beneath the Seavue Apartments with 69  residential apartments above, which offers a dedicated market for the tenants,” Shaun Seeto said. 

“Rarely do commercial investments like this come up for sale in this highly sought after bayside area."

“Both the purchaser and seller are delighted with the result of the sales strategy and process which  saw such a fast sales result for both parties,” Shaun Seeto added.

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