Rare Opportunity! Inner City Freehold Block Of 10 Units, House & Telstra Tower On 1,955 sqm Land Area
LJH Commercial Brisbane & Colliers International are proud to present 278 Milton Road, Milton to the market for immediate sale.
* Tightly held for over 47 years. Outstanding Investment opportunity.
* High Profile Milton Road Site with 108m* Milton Road Frontage.
* Two Street Access. Front and rear of the site; Milton Road & Nerida Lane.
* 1,955sqm expansive elevated land area with abundant exposure. Ample on site car parking .
* CR2 – Character Residential Zoning. Land use: Multi Unit Dwelling (flats).
Current Improvements include:
* 10 Flats, seven of which are ‘Residential Services fully accredited. Freestanding 2 Bedroom House.
Telecommunication Tower Leased to Telstra. 3 x 10 year lease. Expiry 2033. Annual 6% fixed rental increases.
* Current Residential Gross Income: 122,460 (EX GST). Current Telstra Tower Income: $49,950 + GST. Total Gross Income: $172,410.
* Outgoings (BCC Rates,Urban Utilities (water/sewer) Electricity, Gas, Fire Safety, Emergency Phone: $19,172.
* Net Income: $153,238* (+GST if applicable).
* Significant opportunity to improve and increase income.
* Situated within 2km of the Brisbane City, foot steps to Park Road Business & Restaurant Precinct and Train Station.
* Walking Distance to Suncorp Stadium, Ferry Terminal, Bus Stops, and other amenities.
* Act Immediately. Motivated vendor has provided their Clear Instructions to ensure the property is sold at Auction, (if not sold prior).
* Auction: 10am Onsite, 10 September 2021
* - approx.
BUILDING AREA: 725sqm (approx)
LAND AREA: 1,955sqm