Newspaper article Tweed Daily News (Tweed Heads, Australia)

International Investors Swoop on Office Building

Newspaper article Tweed Daily News (Tweed Heads, Australia)

International Investors Swoop on Office Building

Article excerpt

INTERNATIONAL investors are eyeing off commercial property in Queensland, with Middle East interests swooping on a fully tenanted office building on a prominent site in Ipswich.

The two-level office building on a 906sq m block at 53 Brisbane Road, Ipswich, was sold under the hammer by Ray White Commercial Queensland's Damian McMahon and Trent Quinn of Ray White Commercial Ipswich for $541,500.Abu Dhabi-based businesswoman Vicki Aronis bought the property at the Ray White Capital City Auctions, held in rooms at the Stamford Plaza in Brisbane.

Mr McMahon said there had been strong interest in the Brisbane Road property, with 55 inquiries, five inspections and six registered bidders at the auction.

He said there was also keen overseas and interstate interest in the investment opportunity.

C[pounds sterling]The property offered a large site in a prominent position in the Brisbane to Ipswich commercial corridor,C[yen] Mr McMahon said.

C[pounds sterling]There are long-term tenants in the 275sq m office in local legal firm Morrisons Lawyers, which is paying rent of more than $54,000 per annum. …

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