SOLD
Sold on 22 Feb 2024 for $2,350,000

139 Margate Parade
Margate QLD 4019

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 348m2
Land area: 405m2
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McGees Property - Brisbane
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Property Details for 139 Margate Pde, Margate

Building Type
Commercial
Year Built
1965
Floor Size
348m2
Land Size
405m2
Local Government
Moreton Bay
Lot/Plan
1/RP30373

Last Listing description (April 2024)

McGees Property are pleased to present a 'once-in-a-lifetime opportunity' to acquire a mixed-use property in the highly sought-after location of 139 Margate Parade, Margate Beach, Redcliffe for Sale.

This unique property, being offered for sale for the first time in 20 years, boasts a prime position on the waterfront with a prominent corner location that makes it truly one-of-a-kind. This property is perfect for investment or repositioning into a bespoke offering with future development upside.

Offering three retail tenancies on the ground floor and two 1st floor residential units the property offers a diversity of income.

Features;
- High exposure corner block of 405m2 overlooking the sparkling waters of Moreton Bay
- Well-presented 348m2 building, over two levels incorporating ground floor retail plus 1st floor residential units and double garage
- Fixed 3% - 3.5% annual rent increases, ensuring future rental growth
- Multiple income streams with two recently commenced commercial leases and a 12 month rental guarantee for the remaining retail tenancy
- Zoning - General residential zoning in "Next Generation Neighbourhood"

The Redcliffe Peninsula is a vibrant coastal community and the proud home of the newest NRL team, the Dolphins, making it an exciting time to invest in this booming area. With a significant trade area catchment, this property presents an incredible opportunity to capitalize on the growth and development of the region.

Whether you are looking to invest in a high potential property or to create your own bespoke space, 139 Margate Parade is must-see. Do not miss out on the chance to acquire this truly special property in the heart of Redcliffe. Presenting an outstanding opportunity to acquire sought-after freehold investment with huge exposure and excellent future upside (STCA)

Please contact the Exclusive Agents Nina Brailey and Justin Clarke for further information.

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Property History for 139 Margate Pde, Margate, QLD 4019

A timeline of how this property has performed in the market
Last Sold
$2,350,000
22 Feb 2024
Listed for Rent
$671/w
26 Sep 2023
  • 09 Apr 2024
    Listed for Rent $35,000 / year
  • 22 Feb 2024
    Sold for $2,350,000
  • 31 May 2023
    Listed for Rent $35,000 / year
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About Margate 4019

The size of Margate is approximately 2.6 square kilometres. It has 12 parks covering nearly 6.8% of total area. The population of Margate in 2011 was 7,007 people. By 2016 the population was 7,390 showing a population growth of 5.5% in the area during that time. The predominant age group in Margate is 40-49 years. Households in Margate are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Margate work in a professional occupation. In 2011, 51.2% of the homes in Margate were owner-occupied compared with 53.2% in 2016.

Margate has 4,140 properties. Over the last 5 years, Houses in Margate have seen a 85.74% increase in median value, while Units have seen a 97.06% increase. As at 30 November 2024:

  • The median value for Houses in Margate is $847,891 while the median value for Units is $724,021.
  • Houses have a median rent of $575 while Units have a median rent of $495.
There are currently 36 properties listed for sale, and 21 properties listed for rent in Margate on OnTheHouse. According to CoreLogic's data, 197 properties were sold in the past 12 months in Margate.

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