SOLD
Sold on 17 Jun 2024 for $5,400,000

38-42 Oak Street
Andergrove QLD 4740

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 2310m2
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Property Details for 38-42 Oak St, Andergrove

Building Type
Commercial
Land Size
2310m2
Local Government
Mackay Regional
Lot/Plan
8/RP907377

Last Listing description (November 2023)

We are pleased to announce that QCommercial Properties, in conjunction with RE/MAX U, is offering to the market a BP Service Station (Head Leased) and Fast Food Drive Thru Brodies Investment for sale. This property is situated at 38 Oak Street Andergrove QLD 4740, and enjoys a high exposure corner location with a dual frontage of 58m* facing Oak Street and 32m* facing Tropical Avenue.

This investment opportunity is likely to attract a lot of attention from various investor groups, including REIT, Superannuation funds, and both local and interstate investors.

We invite all discerning investors looking to add a strategic asset to their investment portfolio to get in touch with Deepen Khagram, the exclusive marketing agent, to obtain a copy of the information memorandum and access to the data room. Properties such as this are an exceptional investment opportunity, and we encourage all interested parties to act fast and secure this valuable asset.

- Tenants include Head Leased BP and Brodies Chicken
- Recent BP & Wild Bean Cafe site upgrade and 24/7 hours trading
- Fully tenanted investment with Net income $362,325.18 p.a
- Long leases to BP and Brodies with options
- Annual Increases - CPI or 4.25% (Capped)
- Land Area: 2,310m2* in prime retail precinct
- Fibreglass tanks (BP owned and maintained)
- High exposure corner location with strong vehicular traffic along Oak Street
- 6km* from Mackay CBD
- Will suit many investors: REIT, Superannuation funds, local and interstate

For more information on this exciting opportunity and to access the information pack please contact the exclusive marketing agent.

*Approximately

Property History for 38-42 Oak St, Andergrove, QLD 4740

A timeline of how this property has performed in the market
Last Sold
$5,400,000
17 Jun 2024
  • 17 Jun 2024
    Sold for $5,400,000
  • 16 May 2023
    Listed for Sale Expression of Interest
  • 19 Feb 2018
    Sold for $4,150,000
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About Andergrove 4740

The size of Andergrove is approximately 8.5 square kilometres. It has 23 parks covering nearly 8.8% of total area. The population of Andergrove in 2011 was 9,372 people. By 2016 the population was 9,433 showing a population growth of 0.7% in the area during that time. The predominant age group in Andergrove is 0-9 years. Households in Andergrove are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Andergrove work in a trades occupation. In 2011, 65% of the homes in Andergrove were owner-occupied compared with 61.1% in 2016.

Andergrove has 4,494 properties. Over the last 5 years, Houses in Andergrove have seen a 67.67% increase in median value, while Units have seen a 62.65% increase. As at 31 October 2024:

  • The median value for Houses in Andergrove is $546,173 while the median value for Units is $340,066.
  • Houses have a median rent of $570 while Units have a median rent of $450.
There are currently 29 properties listed for sale, and 12 properties listed for rent in Andergrove on OnTheHouse. According to CoreLogic's data, 269 properties were sold in the past 12 months in Andergrove.

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.