976 Waterworks RoadThe Gap QLD 4061
Property Details for 976 Waterworks Rd, The Gap
Last Listing description (December 2022)
MDM Group is excited to offer to the market one of this year's most exciting sub $2.5 million medical investments, 976 Waterworks Road, The Gap, for sale via 'Expressions of Interest' closing the 22nd of November 2022.
This exceptional freehold property represents a rare opportunity to acquire a prime 379 m2 parcel of land in one of western Brisbane's most desirable suburbs with a robust income underpinned by a 5-year lease to SmartClinics the fifth largest medical centre operator in Australia with over 60 locations around Australia.
The investment highlights are summarised below:
* 5-year lease to 'SmartClinics' one of Australia's most professional medical centre operators in the highly sought-after western suburb of Brisbane 'The Gap'
* The investment represents a rare opportunity to secure a strategically located 379 m2 land holding in this affluent suburb with a robust long-term gross income of $134,654 plus GST ($498 per m2 of net lettable area)
* The lessee has recently committed to a new 5-year lease to the 22nd of December 2026 and has undertaken a major renovation of the property
* The lease includes attractive fixed annual increases of 3.50% per annum with a market review at commencement of the 5 year option with a cap and collar of 10% of the previous years rent
* The property enjoys an attractive zoning of 'District Centre' and is ideally situated next to the dominant shopping centre in the area "The Gap Village Shopping Centre" that is anchored by Coles and ALDI supermarkets
* The investment provides an annual net income of $122,388 plus GST
For further information on this investment and to register your interest please contact the exclusive sales agent, Michael Maguire.
Mobile: 0412 738 538
Property History for 976 Waterworks Rd, The Gap, QLD 4061
- 09 Feb 2023Sold for $2,007,530
- 26 Oct 2022Listed for Sale $2,200,000
- 30 Jun 2019Sold for $205,000
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About The Gap 4061
The size of The Gap is approximately 12.6 square kilometres. It has 31 parks covering nearly 10.8% of total area. The population of The Gap in 2016 was 16692 people. By 2021 the population was 17318 showing a population growth of 3.8% in the area during that time. The predominant age group in The Gap is 10-19 years. Households in The Gap are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in The Gap work in a professional occupation.In 2021, 83.60% of the homes in The Gap were owner-occupied compared with 83.00% in 2016.
The Gap has 6,801 properties. Over the last 5 years, Houses in The Gap have seen a 88.73% increase in median value, while Units have seen a 116.61% increase. As at 31 January 2026:
- The median value for Houses in The Gap is $1,445,309 while the median value for Units is $1,112,896.
- Houses have a median rent of $800 while Units have a median rent of $700.
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