Taringa $3.7m Sale

A fully leased office and retail centre at Taringa has been snapped up by an investor for $3.7 million. The two-level building sits on a 1166sq m site at 188 Moggill Rd, Taringa.

Rick Bird, of Ray White Transact, negotiated the sale in an off-market transaction. The property sits on a high-profile corner in Taringa’s established retail precinct.

The retail tenancies are occupied by Super Cheap Auto and Swimart and a new lease has just been signed with a personal training studio, Vision Personal Training, for the upper level space.

Mr Bird said the centre was completed in 2007 and that many factors made it appealing to inve
stors. There is basement car parking and it is about 300m from Taringa Railway Station.

Mr Bird said it was on the left-hand side of the road outbound, which made it easy to access. “The left hand side outbound is very good for retail,” he said.

Taringa’s retail area had undergone a resurgence of late, as had a lot of areas that were close to potential transit oriented development.

Mr. Bird said the strong national tenants made it an appealing property to own.