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Southport, 20 Musgrave Avenue

Rare Chirn Park Freestanding Property For Sale

Price on Application

Listing Number: QBA6564
About this listing
An opportunity exists to purchase a significant asset within the Chirn Park area on the Gold Coast.

This fully leased property comprises four commercial tenancies with a net lettable area of 248m² on the ground level and four residential units on the upper level. The residential units feature a 2 bedroom 2 bathroom layout and have a combined area of 462m².

The tenancies are split into 2 distinct buildings, with the commercial areas on the lower levels, and the residential component on top. The centre of the property is open to Kerr St allowing easy access to the car parking spaces for the various residential and commercial tenants.

The property is currently strata titled but is available for purchase in one line. An investor could dissolve the body corporate and increase the yield available.

The property fronts both Musgrave Avenue and Kerr Street, offering the astute investor a great opportunity to purchase a remarkable corner investment on the major road through the booming Chirn Park Area. The property is located on the southern end of the main shopping area within the Chirn Park locale and provides the commercial and residential tenants access to the commercial and lifestyle amenities that this bustling shopping precinct offers.

The main features of the property are as follows:

* Net income of $192,188 per annum;
* Land area of 987m² in the desirable Chirn Park area;
* Property is strata titled allowing for later sales of individual units;
* Medical zoning for the commercial suites appeals to the widest range of tenants;
* Unique mix of residential and commercial allows for a lower risk investment.

Full Information Memorandum available on request.

DISCLAIMER: Subject to the provisions of the Trade Practices Act 1974 and subject to any other non-excludable statutory provisions. Conduco Pty Ltd t/as NAI Harcourts Gold Coast for themselves and for the Vendors of this property for whom they act give notice that all information given in relation to this property whether contained in this document or given orally, is given without responsibility and intending purchasers and tenants should satisfy themselves as to the truth or accuracy of all information given by their own inspections, searches, inquiries, advice or as is otherwise necessary. No person in the employment of Conduco Pty Ltd t/as NAI Harcourts Gold Coast has any authority to make or give any representation or warranty in relation to this property.
Property Information
  • Floor Area: 710 sqm
  • Land Size: 987 sqm
  • Property Type: Office, Other (Medical/Consulting), Retail, Tenanted Investment

Contact Details

Harcourts Broadwater

40 Frank Street

Property Location

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