Investor doubles down in Windsor
An investor has outlaid $43.5 million for two neighbouring retail assets in Brisbane’s exclusive Windsor.
In the most recent deal, a showroom at 157-159 Newmarket Road sold for $15 million.
The result reflects a 4.85 per cent net passing yield.
With 1944 square metres leased to Officeworks, it occupies 4979 sqm at the north west corner of Silvester Street.
The northern boundary is also exposed to the train line and Harle Avenue.
Earlier this month we reported the buyer, a private investor, bought the Windsor Exchange convenience retail investment across the road (143 Newmarket Rd, at the north east corner of Silvester), for $28.5m, from Griffin Group.
JLL’s Jacob Swan and Liam Cox brokered both deals (continues below).
Neighbouring sites cost $43.5m
The vendor of 157-159 Newmarket Rd, Kirra Apartments Pty Limited, paid Officeworks $13.425m in 2019.
The facility had only just been completed.
More than 20,000 vehicles pass it a day.
The agents said Windsor, about five kilometres north of town, is one of the city’s most affluent and densely populated catchments.
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