FOR SALE
For Sale by Expressions of Interest

224 Wishart Road
Wishart QLD 4122

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 1911m2
Land area: 2813m2
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Multi-Tenanted Investment with Option to Buy Anchor Tenant's Business + Future Development Upside

For Sale by Expressions of Interest, Closing Wednesday, 12:00pm 28th of August 2024
Fully Tenanted investment with long-established tenants will be sold. The building is in a highly visible location on busy Wishart Road. The property is strategically located in an area that is affluent and well established, but still growing. Much of the growth in the area is due to it's easy access to Brisbane CBD approximately 14.2*km away. Demand for the area has meant ongoing growth due to increased densification. This strong residential growth may lead to future upside with the property due to it's prime location.
224 Wishart Road is for sale with the flexibility to purchase the property only, the property and the business, or the business only.
• Property only. In the event that an investor wishes to purchase the property but not the business, Pet City is willing to execute the draft lease for 5 years.
• Property and the business purchased together. This option is highly suitable for investors experienced in veterinary or pet businesses. The existing veterinary business' lease is at an end in November and that space could be available also on 6 months' notice to the tenant.
• Business only. The Pet City business has been operated by the same family since its inception 67 years ago. In that time a strong local following has ensured ongoing loyalty from a substantial customer base. The business is offered on a 'walk-in, walk-out' basis plus stock at cost price at settlement.
The property is fully leased and has eight tenancies; all have annual reviews at CPI. Seven of the tenancies are on the Wishart Road level with parking for 15 at the front of the building. Side driveway access takes you to the lower ground level where Pet City is located, along with 45 additional car parks.
This is a unique opportunity to secure a fully tenanted investment property with the option to purchase the Pet City business as well.
For more information on this unique opportunity, please contact Grant Turner (0457 766 812) or Julie Ryan ( 0447 445 453) to receive a copy of the Information Memorandum and access to the Data Room.
*Approx.
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Property Details for 224 Wishart Rd, Wishart

Building Type
Commercial
Floor Size
1911m2
Land Size
2813m2

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About Wishart 4122

The size of Wishart is approximately 4.3 square kilometres. It has 14 parks covering nearly 17.2% of total area. The population of Wishart in 2011 was 10,460 people. By 2016 the population was 10,708 showing a population growth of 2.4% in the area during that time. The predominant age group in Wishart is 10-19 years. Households in Wishart are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Wishart work in a professional occupation. In 2011, 74.2% of the homes in Wishart were owner-occupied compared with 74.6% in 2016.

Wishart has 3,909 properties. Over the last 5 years, Houses in Wishart have seen a 79.01% increase in median value, while Units have seen a 90.31% increase. As at 30 September 2024:

  • The median value for Houses in Wishart is $1,359,781 while the median value for Units is $773,056.
  • Houses have a median rent of $750 while Units have a median rent of $580.
There are currently 20 properties listed for sale, and 8 properties listed for rent in Wishart on OnTheHouse. According to CoreLogic's data, 139 properties were sold in the past 12 months in Wishart.

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