Fully Leased Office Sold in Central Toowoomba for $1.25million
A fully leased office building occupied by the renowned Heritage Bank at Toowoomba in Queensland’s Darling Downs has been sold for $1.25 million by Ray White Commercial.
The fully tenanted CBD property at 270 Ruthven Street, Toowoomba, has been sold by Ray White Commercial Springwood’s Silvio Bevacqua.
Silvio Bevacqua said this sale gives clear evidence to the growing hunger in buyers currently in the south-east Queensland market.
“The investor market is very strong at the moment which has clearly been shown with this $1.25 million sale in central Toowoomba,” he said.
“The 840 sqm block is leased by a trustworthy tenant, the renowned Heritage Bank which has a 452 sqm administration centre on site.
“The current rental return is $92,497 on the property, giving a net yield of 7.3 per cent which is a good result for the investor.”
Silvio Bevacqua said there is potential for redevelopment STCA as well, only furthering the future value of the property.