Redcliffe

<html><body>
A group of investors headed by former Yellow Brick Road owner David Carr has sold the Redcliffe Tavern and First Choice Liquor Superstore in Brisbane's north at a loss.
They sold for $14.5 million having paid $15 million in 2016.
The previous owner, Somerset Properties had bought it from Alceon for $11.5 million in 2014.
It sold in 2013 at $10.65 million.
The latest buyers, Anthony and Julian Vedelago's Wuvulu Property Investments, secured it on a yield of about 7.25% through Savills.
The 1464 square metre freestanding Anzac Avenue building sits on a 2313 square metre site.
It comprises a 643 square metre tavern and 821 square metre liquor store.
It was offered with a 20-year lease to Coles-owned Liquorland plus options to 2049.
The property was developed in 2009.
Nine Entertainment reported Carr played down the sales result and said the investor group had "come out ahead" when the deal was averaged out across a number of pub divestments.
"I don't see it as a turning point for the pub sector," Carr said.
He attributed the weaker sale result to "some uncertainty around the Coles business model in Queensland" during the sales campaign and described the property as more of a retail offering then a pub asset.
Carr runs Sydney wealth advisory firm DBR with Bernard Reilly who was also an investor in the Redcliffe Tavern.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Investment group led by David Carr makes loss on Redcliffe Tavern sale

<html><body>
The lowest yielding sale at commercial auctions this week was the $2.68 million sale of the retail property leased to The Coffee Club in Redcliffe, Brisbane.
It sold at a net yield of 5.88 per cent.
The retail property in <a href="https://www.realcommercial.com.au/property-retail-qld-redcliffe-502867550" target="_blank">Redcliffe</a> (pictured above) is leased to The Coffee Club on a seven-year lease with another seven-year option.
It last sold at $1.75 million in 2006.
The waterfront property at 171 Redcliffe Parade will bring in about $156,000 – excluding GST – starting from September 1.
The Coffee Club was established 1989 and currently operates 400 stores in nine countries
The oceanfront reserve freehold property overlooking Redcliffe Pier offered long term redevelopment potential to 12 storeys (STCA).
The premises occupy 332 sqm on the 405 sqm block – plus exclusive use of street front alfresco dining area
There is rear lane entry accessing parking for up to six vehicles.
There are views to Moreton Island at the high traffic Brisbane seaside tourism precinct.
The neighbouring tenants include Chemist Warehouse, Vast Interiors, Subway and Banjo's.
The tenant pays all outgoings as per lease and 3% per annum rental increases.
</body></html>

The Coffee Club in Redcliffe, Brisbane sold at a net yield of 5.88 per cent

<html><body>
Redcliffe ranks among the highest Queensland suburb for the fastest growing suburb to purchase a unit, according to Investar’s latest market report.
The property investment firm states that Redcliffe has grown by 42% in one year. It does appear overly high.
This is followed by Labrador with a growth of 25% and Varsity Lakes with a growth of 19%.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="106">
Bedrooms
</td>
<td valign="top" width="106">
Median listing price
</td>
<td valign="top" width="106">
1 year change
</td>
</tr>
<tr>
<td valign="top" width="106">
Redcliffe
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$647,000
</td>
<td valign="top" width="106">
42%
</td>
</tr>
<tr>
<td valign="top" width="106">
Labrador
</td>
<td valign="top" width="106">
Studio and 1
</td>
<td valign="top" width="106">
$320,000
</td>
<td valign="top" width="106">
25%
</td>
</tr>
<tr>
<td valign="top" width="106">
Varsity Lakes
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$537,000
</td>
<td valign="top" width="106">
19%
</td>
</tr>
<tr>
<td valign="top" width="106">
Bargara
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$580,000
</td>
<td valign="top" width="106">
16%
</td>
</tr>
<tr>
<td valign="top" width="106">
Noosaville
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$747,000
</td>
<td valign="top" width="106">
15%
</td>
</tr>
</tbody></table>
<img src="/images/2016/11/02/Investar.jpg" alt="" width="638" height="358">
A three bedroom apartment at <a href="https://www.realestate.com.au/property-unit-qld-redcliffe-123678850" target="_blank">39/17 Marine Parade</a> (above) is for sale for $649,000.
It previously traded for $420,000 in 2012, showing a 10.99 percent price growth.
 
 
</body></html>

Redcliffe

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Redcliffe

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News