Bribie Island Dental Clinic Sold

Medical consulting space leased by a national dental clinic at Bribie Island north of Brisbane has been for $1.25 million.

The 142 sqm tenancy at 1/241 Goodwin Drive, Bribie Island, was sold to a Sydney-based investor by Ray White Commercial Brisbane Northside’s Ellie McGovern and Robert Rey on behalf of a Brisbane owner for a net yield of 7.0 per cent.

Ms McGovern said the premises are leased by Pacific Smiles Dental, which has approximately 40 clinics nationwide.

“This was a high quality investment opportunity in a strong location within a major shopping centre precinct in fast growing community,” she said.

“The property currently returns net rental income of approximately $86,000 per annum with the established national tenant on a 10 year lease that is in place until 2021 with further options.

Bribie Island, located approximately 80km north of Brisbane and connected to the mainland by a bridge, is well serviced for amenities and retail outlets with a host of national and international brands, including Aldi, established in its major shopping precinct.

“Bribie Island is also a natural wonder and remains one of Queensland’s major tourist destinations,” Mr Rey said.