THE LANDMARK TWO Birds Café at Toowoon Bay, along with two residential rental investments has sold for $1.45 million after just a week on the market.
Sold my Bruce McLachlan of McLachlan Partners Long Jetty, the property is located on the corner of Pacific Street and Bay Road and comprises 4-bedroom adjoining cottage and separate rear garden unit on a 752 sqm lot.
The property is fully leased returning $62,000 per annum. The café is leased until October 2019 to a long term tenant seeking to renew.
A DA Approval for rooftop conversion plus DA approval for a 5 lot strata subdivision applies to the property.
Mr McLachlan said that the property sold by private treaty for the full asking price in 7 days. It was marketed through McLachlan’s data base and online media.
“There was high interest from local businesses and café proprietors seeking to own freehold for the own use,” he said.
He also commented that there is healthy enquiry for all types of leased commercial sites at present.