SOLD
Sold on 07 May 2024 for $1,350,000

7/837 Ruthven Street
Kearneys Spring QLD 4350

Bedrooms: -
Bathrooms: -
Car spaces: 1
Floor area: 82m2
Land area: 500m2
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Property Details for 7/837 Ruthven St, Kearneys Spring

Building Type
Commercial
Year Built
1994
Floor Size
82m2
Land Size
500m2
Local Government
Toowoomba Regional
Lot/Plan
7/GTP3826

Last Listing description (August 2024)

Suited to the astute investor seeking to expand their commercial footprint. An exceptional opportunity beckons within the bustling Willowglen Shopping Centre, nestled in the vibrant suburb of Kearneys Spring. Situated at the heart of this thriving locale, this retail property stands as the largest lot within the center with a total site area of 500m2 , promising unmatched potential for growth and prosperity.

Strategically positioned along Ruthven Street, a key artery of the New England Highway, this location witnesses a staggering flow of traffic, with over 37,000 vehicles passing through daily. Serving as the primary route for travelers journeying North or South through Toowoomba, alongside substantial local traffic, Kearneys Spring boasts the second-highest population density per suburb in the Toowoomba area, ensuring a steady stream of clientele.

Within the complex, an array of diverse businesses flourishes, ranging from renowned fast-food chains and franchises to essential community services such as a reputable medical center catering to the needs of local residents and nearby retirement communities. Notable consumer destinations nearby include Kmart, Harvey Norman Centre, Aldi, McDonald's, Coles, Woolworths, BP Service Stations, as well as several prominent sports clubs and recreational facilities. This property guarantees stability through secure leases and promises an attractive return on investment, boasting an impressive annual yield of $97,864.00 inclusive of GST.

Presently occupied by reputable tenants including a laundromat, electronics shop, Chaska Indian Street Food Restaurant, and a hairdresser, this investment opportunity is poised for success in the dynamic commercial landscape.

Features include:
- 500m2 NLA comprising of 4 tenancies
- Retail Investment in popular shopping centre
- Secure leases with quality tenants providing an attractive ROI
- Notable consumer destinations nearby
- Fully Leased
- Ample carparking space and access for consumers
- Front main arterial road with 37,000+ vehicles per day

To arrange an inspection or learn more, contact Alice Ridgway on 0488 085 880.

Property History for 7/837 Ruthven St, Kearneys Spring, QLD 4350

A timeline of how this property has performed in the market
Last Sold
$1,350,000
07 May 2024
  • 07 May 2024
    Sold for $1,350,000
  • 27 Feb 2024
    Listed for Sale Interest Over $1,300,000
  • 01 Jun 2009
    Sold for $712,000
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About Kearneys Spring 4350

The size of Kearneys Spring is approximately 6.5 square kilometres. It has 22 parks covering nearly 15.1% of total area. The population of Kearneys Spring in 2011 was 7,347 people. By 2016 the population was 8,557 showing a population growth of 16.5% in the area during that time. The predominant age group in Kearneys Spring is 20-29 years. Households in Kearneys Spring are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Kearneys Spring work in a professional occupation. In 2011, 51.6% of the homes in Kearneys Spring were owner-occupied compared with 49.1% in 2016.

Kearneys Spring has 4,727 properties. Over the last 5 years, Houses in Kearneys Spring have seen a 89.76% increase in median value, while Units have seen a 60.68% increase. As at 30 September 2024:

  • The median value for Houses in Kearneys Spring is $666,507 while the median value for Units is $420,478.
  • Houses have a median rent of $530 while Units have a median rent of $400.
There are currently 33 properties listed for sale, and 9 properties listed for rent in Kearneys spring on OnTheHouse. According to CoreLogic's data, 233 properties were sold in the past 12 months in Kearneys spring.

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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.