• Sold
The Heart of Garbutt
The Heart of Garbutt
The Heart of Garbutt
The Heart of Garbutt
The Heart of Garbutt
The Heart of Garbutt
The Heart of Garbutt
This is a rare opportunity to secure a large site under long term lease in the highly sort after Garbutt industrial precinct. The well-located property sits in Hartley St which is only 2 minutes from the CBD and 1 minute from the airport yet boasts medium impact industrial zoning and direct access to Woolcock St and Ingham Rd.

5 – 9 Hartley St consists of multiple improvements featuring a modern high clearance tilt slab warehouse of 500 m2 plus attached 2 storey office component with the first floor doubling as a caretaker’s residence, total office area of 140 m2. There are also 2 iron clad warehouses of 130 m2 and 330 m2, both with multiple roller doors. Total improvements calculate to less than 15% site coverage of lot 3.

The 6,879 m2 improved parcel is leased long term to multinational tenant, ORIX Australia Corporation Limited, who specialise in the acquisition, financing and management of motor vehicles and other forms of transport. ORIX renewed their lease for another 5 years from 8 July 2017 with the current rental at circa $140,000 pa net plus all outgoings paid by the tenant.

The site is improved with three structures including the main tilt slab warehouse with dual level office structure and two iron clad warehouses. A heavy vehicle wash down bay has been installed along with two coat bitumen seal hardstand across the whole site. The ORIX lease excludes the small rear warehouse which is used to house the current owner’s personal equipment and the upstairs office which is leased to the neighbouring hardstand tenant, Queensland Electricity Commission for $12,000 pa gross + GST.

With high quality tenants in place and modern improvements on such a large industrial holding in Garbutt, this property will be a successful addition to any portfolio.
This property is being offered for sale in one line or sold separately.

For more information, please don't hesitate to contact:

James Pascoe, Colliers International

Ref #: da00a16d-8dbb-4c85-b05e-a506ce

Property Details

  • 25/10/2019
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