SUPER CHEAP’S MULTIMILLION DOLLAR SALE
A PRIME piece of commercial real estate along Dalby’s main street has sold at auction for a cool $2.4m to a local buyer.
Super Cheap Auto at 78 Cunningham St went under the hammer at the end of September, and drew in 12 prospective bidders in person, online, and over the phone.
Burgess Rawson Commercial Real Estate’s Craig Chapman said the sale brought a yield of 6.43 per cent, which was “very impressive” for a regional asset.
“It was very hotly-contested, the auction,” he said.
“The sale hasn’t been finalised but we had a fair few dial into the auction on the day.”
Mr Chapman said in September the site had been “decked out” recently with new renovations, and would rival any hardware stores in Brisbane.
“The whole shop has brand new specs, with new lighting, shelving, and more … it’s like stepping into a Super Cheap in the middle of Brisbane,” Mr Chapman said.
“A business like this will be there for a long time.”