Iconic Ascot Investment for Sale at Auction
An investment opportunity with redevelopment upside in the prestigious Brisbane suburb of Ascot is being offered for sale for the first time in more than 60 years by Ray White Special Projects (Qld).
The iconic commercial property plus residence at 119 Lancaster Road and 7 Alexandra Road, Ascot, is offered for sale via auction through Ray White Special Projects (Qld) Directors Tony Williams and Mark Creevey on behalf of the Bradfield family, who formerly ran a butcher shop on the site.
Tony Williams said the offering comprises two retail/commercial shops returning gross rental income of more than $100,000 per annum.
“The property is on a land area of approximately 607 sqm and also includes a four-bedroom residence,” he said.
“The prominent corner location provides the potential (STCA) to subdivide the house from the retail component.”
Mark Creevey said the site is in a fantastic position in Ascot and overlooks Oriel Park.
“This is a significant opportunity to acquire a property on the market for the first time in more than 60 years,” he said.
“There is two-street frontage and the property is ideally positioned near local shops, public transport and Ascot State School.”
Ascot is a well-established suburb approximately 7km from the Brisbane CBD that is close to Doomben and Eagle Farm racecourses and characterised by beautiful old homes and picturesque Poinciana tree-lined streets.
The commercial/residential property will be auctioned from 10.30am (AEST) on Friday, August 25, 2017, at Level 26, 111 Eagle Street, Brisbane.