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South Brisbane site sells for 5.68% yield

The Queensland Investment Services team has sold 300 Ipswich Rd, Annerley to a private Asian investor.

The property was marketed through an EOI campaign where the team had multiple parties bid with a 3 round process. The final accepted offer was unconditional with a 14 week settlement.

300 Ipswich Rd is currently a 9.1Ha retail centre with 7 storey mixed use development upside, with the current WALE at 4 years the passing yield was 5.68%.

Guy Stafford and Philip O’Dwyer said that the purchaser will hold onto the asset until 2020 and then assess the residential market. 

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