Eight Mile Plains QLD 48/223 Padstow Road - For sale

Eight Mile Plains QLD 48/223 Padstow Road

Key detail:
* Address 48/223 Padstow Road, Eight Mile Plains 4113
* Site area 912m2
* Existing use Restaurant; conference room; car parking
* RPD Lot 48 SP157131
* Access Shared 10.31m access from Padstow Road
* Servicing Accessed from Warrigal Road
* DA Approval: Motel, Restaurant, and convention centre
* Common property Lot 0 on SP157131
* Applicable planning scheme City Plan 2014 v25


Detail:
This impressive commercial building is located in a prime location at Eight Mile Plains, prominently positioned on a major intersection with significant daily passing traffic and exposure. The property boasts a basement with 24 car bays and outdoor parking with an additional 22 car bays. It is currently set up as a restaurant with a commercial kitchen and can accommodate functions and weddings for up to 500+ people. The building is in a central location, opposite the popular Bella's Fruit market shopping centre. This is a unique opportunity to purchase a property below its vacant possession valuation value.
* Lease term 7 years commencing 1 October 2022
* Lease expiry 30/09/2029
* Option 2x5 years
* Net income $300,000 p.a + outgoings + GST
* Lessee responsible for 100% of outgoings

Location and advantage :

The site is well located along Padstow Road (Suburban Road typology) within the suburb of Eight Mile Plains. The immediate area largely characterised by low - medium density
residential with community uses and small scale commercial interspersed. The entrance to
the M1 is located in close proximity (1.3km) from the site and is within 3km of Westfield
Mount Gravatt and Sunnybank Plaza centres.

Price: For Sale
Inspection: By appointment
Address:48/223 Padstow Road Eight Mile Plains QLD
Contact:
Conan Li 0404 617 767 / 073373 9887
Email: conan.li@yong.com.au

Disclaimer: We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein