A Queensland investor has bought Kingaroy's National Australia Bank building for $1.15 million. Picture: Madeline Grace
A Queensland investor has bought Kingaroy's National Australia Bank building for $1.15 million. Picture: Madeline Grace

SOLD: NAB building fetches impressive figure at auction

A QUEENSLAND investor has snapped up the National Australia Bank building in Kingaroy for a whopping $1.15 million.

The property was sold on an 8.20 per cent yield at Burgess Rawson’s Flagship Portfolio Auction.

The prime blue-chip investment property at 206 Kingaroy St sits on 726sq m and provides the new buyer with a net income of $94,760 pa plus GST.

Currently leased to the Top 6 ASX-listed company, NAB, on a five-year lease to March 2023, the asset also includes fixed 3 per cent annual rent increases, assuring growth for the investor.

Burgess Rawson sales and leasing executive Craig Chapman said the buyer had invested in a unique property in the growing South Burnett.

“It is extremely rare for ASX-listed tenant properties such as these to become available, especially within an established regional town centre and the banking industry,” Mr Chapman said.

“As a big four bank, NAB is a dream tenant and services the regional shire where more than 32,555 people call home.

“This million-dollar Kingaroy sale kicks off what is expected to be a strong year in Australia’s property market, particularly in regional Queensland, and we look forward to bringing a number of exciting opportunities to investors nationwide.”