Raine & Horne Commercial are very proud to present to the market for the first time this prominent freehold corner site in Cleveland central. The E.C. Dean Building located on the corner of Bloomfield and Queen Streets has multiple retail tenancies on the ground floor and office suites on the first floor. Adjoining the E.C. Dean Building is 118 Queen Street, which has an older style residential dwelling on the site. Both properties are fully tenanted and currently achieving an annual gross rental income of $251,777.
This is a unique opportunity to purchase a prime redevelopment site with strong holding income in the heart of Cleveland's central business district. Both properties have principal centre zoning offering a total site coverage of 1,632sqm with approximately 20 metre frontage to Bloomfield Street and 60 metre frontage to Queen Street.
Cleveland is widely regarded as the heart of Redland City and is undergoing major transformational change to accommodate a growing population. More facilities, infrastructure and services are required to meet future demand. Now is the time to secure this prime corner site and be an integral part of the future redevelopment of Cleveland Centre.
This outstanding asset is offered for sale by Expression of Interest with a closing date of 5pm on Friday 11 October 2024 (if not sold prior).
For further information please contact Exclusive Agents, Colin Tucker and Nick Comino. Information Memorandum is available upon request.