Bulldozer on standby as developers eye off warehouse
A VACANT property has piqued the attention of buyers looking to take advantage of record low interest rates.
Developers have shown interest in overhauling a space left empty after a national automotive chain moved its operation 10 minutes west.
The space that previously held Bursons Auto Parts at 198 Brisbane Road, Booval, has become available, including a 866m2 warehouse on a 2539m2 plot of land.
Raine and Horne Commercial real estate agent Graeme Watts said the seller was open to those looking for a long-term lease as well as those looking to buy.
The property, which was listed two days ago, has already received attention from buyers and those looking to sign a lease.
“There is lots of buyer interest at the moment, with record-low interest rates and access to loans is quite good,” Mr Watts said.
“We’ve been seeing more interest in buying over leasing in the second-half of the year because of the drop in interest rates.”
He said plenty of calls had come from those with plans to give the property a complete overhaul.
“A handful of developers have said they’re interested in repositioning the property,” Mr Watts said.
“(They’re considering) either refurbishing and trying to attract a higher rent rate or even demolishing and building something new.”
The owner, who is a private seller from Brisbane, is eager to secure more than $2.5 million for the property, or lease it for $120,000 a year.
Bursons Auto Parts occupied the property up until a month ago, ending its five-year tenure.
The auto parts business has since relocated to the corner of Briggs Rd and Parrott St, Ipswich.
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