130 Commercial Rd, Teneriffe, 4005
Teneriffe is located next door to Fortitude Valley, Newstead and New Farm. It is opposite to Bulimba and Hawthorn by the river. As a whole, Brisbane is undergoing significant transformation, with over $10 billions of infrastructure in Fortitude Valley. Over the past 5 years, Newstead population has grown 7.7% and employment of 43.1%.
The property is located in Brisbane’s thriving Urban Renewal Precinct – home to Gasworks, James Street and the Calile hotel, within walking distance to the Teneriffe riverfront, full of bars, restaurants, gyms and lifestyle amenity. It has an underlying site area of 1,710m2 with 4 levels, which is in total 4,097m2 net lettable area. 97% of space are renting out, with the termination date lies in 2023 – 2027. The property also includes parking space with 1:82 ratio. The fully leased net income at 1 July 2022 is calculated for $1.8M.