FOR SALE
EOI closing Thursday 10 October, 4pm

74 & 76 Andrew Street
Wynnum QLD 4178

Bedrooms: -
Bathrooms: -
Car spaces: 6
Floor area: 1103m2
Land area: 1808m2
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Industrial Investment with Significant Development Upside

RWC Bayside is pleased to present 74 & 76 Andrew Street, Wynnum to market For Sale via Expressions of Interest closing Thursday 10 October 2024 at 4pm.
Offered for sale in one-line, 74 & 76 Andrew Street represents a unique opportunity for investors, developers and owner-occupiers alike.
The site consists of 6 industrial premises in total with a Nett Lettable Area of 1,154sqm*, on a total land area of 1,808sqm* over 2 titles.
74 Andrew Street is a freestanding metal clad industrial premises with 490sqm* under roof, and a 51sqm* side yard.
76 Andrew Street is comprised of 5 small industrial premises sized between 115sqm* and 125sqm*, a common driveway area with 2-gate drive-thru access, and 6 car parks.
All units are currently leased, with a WALE of 1.88* years and a nett income of $175,000 excl GST pa.
This site could be purchased as a simple set-and-forget tenanted investment providing steady secure cashflow from a well settled group of local tenants.
Alternatively, this site was rezoned to 'High Density Residential' in 2014 allowing for apartment developments up to 25* metres/8 storeys^ under the local Wynnum town plan. The latest lease expiry is August 2027, which gives prospective developers ample time to put together a scheme and get approvals, while having strong cashflow in the short-term.
Lastly, unit 5 is on a month-to-month lease giving owner-occupiers the chance to take up this space themselves, with the ability to expand their footprint in the future.
Features include:
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Property Details for 74 & 76 Andrew St, Wynnum

Building Type
Commercial
Floor Size
1103m2
Land Size
1808m2

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About Wynnum 4178

The size of Wynnum is approximately 6.1 square kilometres. It has 18 parks covering nearly 17% of total area. The population of Wynnum in 2011 was 12,229 people. By 2016 the population was 12,924 showing a population growth of 5.7% in the area during that time. The predominant age group in Wynnum is 40-49 years. Households in Wynnum are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Wynnum work in a professional occupation. In 2011, 60.2% of the homes in Wynnum were owner-occupied compared with 60.9% in 2016.

Wynnum has 7,229 properties. Over the last 5 years, Houses in Wynnum have seen a 89.00% increase in median value, while Units have seen a 83.58% increase. As at 31 August 2024:

  • The median value for Houses in Wynnum is $1,199,907 while the median value for Units is $763,674.
  • Houses have a median rent of $650 while Units have a median rent of $550.
There are currently 50 properties listed for sale, and 38 properties listed for rent in Wynnum on OnTheHouse. According to CoreLogic's data, 323 properties were sold in the past 12 months in Wynnum.

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Nathan Moore
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