Back in busi­ness with com­mer­cial in­vestors

Townsville Bulletin - - NEWS - TONY RAGGATT

THE sale of a fast- food out­let at Her­mit Park is an ex­am­ple of in­vestors turn­ing to prop­erty to chase re­turns amid the tur­moil on share­mar­kets, Ray White Com­mer­cial agent Tony Parker says.

Mr Parker, who re­cently joined the ranks of Ray White, has ne­go­ti­ated the sale of the free­hold of 152 Char­ters Tow­ers Rd for $ 940,000 to a lo­cal in­vestor.

The 659sq m site con­tains a 200sq m re­tail out­let and driv­ethrough for fish and chip fran­chise Rock Pa­per Scis­sors.

Mr Parker said the deal repre- sented an at­trac­tive yield of about 9 per cent.

“There is de­mand for prop­er­ties show­ing good net re­turns,” Mr Parker said.

“There seems to be quite a few peo­ple turn­ing back to prop­erty as an in­vest­ment be­cause the re­turn on money in the bank is not so at­trac­tive and the stock­mar­ket is so volatile with all the go­ings- on at the mo­ment.

“Prop­er­ties with a good net yield, par­tic­u­larly those with na­tional ten­ants, will move quickly.”

A next- door prop­erty, a 929sq m show­room on a 1943sq m site, ten­anted by Su­perCheap Auto at 148 Char­ters Tow­ers Rd, sold at auc­tion ear­lier this year for $ 3.57 mil­lion, rep­re­sent­ing a 7.3 per cent yield.

Mr Parker, an ac­coun­tant and busi­ness owner who opened the Cheese­cake Shop in Her­mit Park in 1996 and is the owner of the La Porchetta res­tau­rant, also in Char­ters Tow­ers Rd, said he had em­barked on some­thing of a ca­reer change with his role as a sales and leas­ing ex­ec­u­tive with Ray White Com­mer­cial Townsville.

He said his busi­ness ex­pe­ri­ence and ex­per­tise were def­i­nitely a help when it came to crunch­ing the num­bers for clients.

Pic­ture: WES­LEY MONTS

YIELD: Ray White’s Tony Parker at the Rock Pa­per Scis­sors out­let.

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