Trinity Group’s 11,552sqm industrial facility with Brisbane River frontage, a global tenant and long WALE was sold by Colliers International at a yield of 8 per cent.
360 Capital, a listed property funds manager, has purchased Trinity Group’s fully leased industrial property at Murarrie in Brisbane for $27 million, representing an initial yield of 8 per cent.
According to 360 Capital Industrial Fund in their ASX release this week, the acquisition takes the Fund’s gross assets to over $500 million and increases the size of their portfolio to 21 properties.
The state-of-the-art modern office and warehouse facility features a total NLA of 11,552sqm and is fully leased to Yamaha Motor Australia Pty Ltd for a 15 year term that commenced in May 2008 and expires in May 2023. The options include two further terms, each being five years.
Simon Beirne, State Chief Executive of Queensland at Colliers International who negotiated the off-market transaction said they are seeing strong investment demand for industrial property across the eastern seaboard. “Opportunities in Queensland have been limited and cap rate compression may continue into 2015 as a result.”
Located at 69 Rivergate Place in Murarrie, the land encompasses 15,755sqm with frontage to Rivergate Place and the Brisbane River. It is in close proximity to Brisbane Airport and the Port of Brisbane and provides direct access to Gateway Bridge and arterial network.
The modern office and warehouse facility was built in 2008 and features concrete tilt panel construction. The building includes a 9,588sqn high bay warehouse and workshop and 1,964sqm of ground and first floor office space. It was designed to take advantage of the adjoining Rivergate Shipyard and other flow-on marine industries.