Healthy yield for investors

Date: 13 September 2013

A two-level industrial building at Burleigh Heads that is borne to two businesses is for sale in an expressions of interest campaign.

The tilt-panel building, on a 1795sq m site at 24 Fremantle St, is home to Compounding Health, a pharmaceutical drugs manufacturer, and to House With No Steps, which provides services for people with disabilities.

Compounding Health holds a 1007sq m tenancy which returns $156,000 net a year under a 10-year lease with two five-year options.

It designs and makes pharmaceutical products for other businesses.

House With No Steps holds 531sq m under a five-year lease with options that returns $60,000 net a year.

The sales campaign, by Byron Glenn and Jamie Bourke of First National Commercial, closes on October 2.

The seller is Lifestyle Investments, associated with Maria Papanikolaou, which purchased it for $1.95 million six years ago.

Mr Glenn said, “24 Fremantle St is very much a point-of-difference property that will have strong appeal to investors”.

“The Compounding Health tenancy is equipped with high-tech laboratories and facilities for the manufacture of pharmaceutical products and is an impressive place,” he said.

“The building’s second tenant is a charity that does outstanding work for peopled with disabilities.”

First National Commercial Gold Coast

Source: Gold Coast Bulletin, 13 Sep 2013
Back to articles Filed under: Media / QLD News Tags: byron glenn, commercial, first national commercial gold coast, jamie bourke
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