Deepen Khagram recently received the special honour of being inducted into the RE/MAX International Hall of Fame.
RE/MAX commercial specialist Deepen Khagram closes the 2022 first quarter strongly with two sales wrapped up by the end of the first month of the year and another since.
The successful sale of a prominent high exposure development site on the corner of Uhlmann Road and Buckley Street, Burpengary, completed a transaction that had been under contract for approximately two years. The 8,118m2 (approx.) land parcel with multiple development options (STCA) sold for $2,180,000.
Mr Khagram, who had twice sold the 7/11 service station opposite, said the asset had been tightly held by the same family.
“This was a high exposure corner location at the entry point to North Harbor Estate, which drew significant inquiry from developers looking at multiple commercial development options.
“Its original purchasers have on sold their option to a large developer, the Lancini Property Group,” Mr Khagram said.
The off-market sale of Edge Childcare Centre 10-12 Telemon Street, Beaudesert, settled on 28th January, selling a very short time after listing and prior to construction.
Land size was approximately 2,024 square metres. The secured tenant, Edge Early Learning, has a 15-year term with a two by 10-year option.
Investors paid $4,636,000 for the property and the sale realised a 5.5 per cent yield.
Prior to that, in Brisbane’s southside, a Regents Park shopping centre sold off-market for $3,100,000
With a land component of 3,223 square metres and a tenancy area of 599 square metres, the 191-195 Waller Road property was attractive to investors with long term tenancies including a medical facility, pharmacy, a hairdresser and a real estate agency.
Its location promised continuous population growth. The 37-bay car park was also an attractive feature.
Mr Khagram had finished 2021 just as strongly with the successful sale of a Caltex service station in Ruthven Street, Toowoomba.
He ran an expressions of interest campaign that attracted more than 50 genuine enquiries.
Mr Khagram said, “Investors are hungry for quality service stations in major regional centres, and in this instance, it was snapped up by a local buyer.
“Caltex Australia Petroleum was a solid tenant with ten-year lease and a two by five-year option and the site had desirable strategic corner access and high exposure to vehicular traffic along New England Highway.”
The successful purchaser paid $4.8 million, with the sale realising a 5.4 per cent yield.
“Investors are definitely seeking quality regional assets,” he said.
Preceding this in the second half of last year was an off-market sale of 7Eleven Bracken Ridge, which sold for $6,225,000 with a commencing annual rent of $360,000 plus GST.
“This site was approximately 11 kilometres north of the Brisbane Airport and 18 kilometres from Brisbane CBD, on a main road that carries more than 26,715 vehicles per day,” said Mr Khagram.
He said the service station sector remained in very strong demand, and that, like services stations, childcare centres were a safe and recession proof asset class.
Mr Khagram recently received the special honour of being inducted into the RE/MAX International Hall of Fame. This is an international honour belonging to an elite group whose members have generated more than $1million USD in gross commission. Hall of Fame induction can happen just once in a sales associate’s career, with them remaining a member for life. To cap a successful 2021 year, Mr Khagram was also awarded the prestigious RE/MAX Australia Chairman’s Award.
Source: REMAX Australia