Local investors show strong interest for tenanted industrial property
Tenanted industrial facility in Caboolture has sold for $1.825 million at the onsite auction held this week. Colliers International was appointed by BDO to sell the 2,000sqm facility at 20-22 Skyreach Street.
Brian Riches, Associate Director of Industrial at Colliers International who marketed the property said in the lead up to the auction the five week marketing campaign generated strong levels of enquiry from the local investors.
“On the auction day we had five registered bidders with one of the local investors offering the winning bid of $1.825 million.
“There is a lack of tenanted facilities available for sale in the area so we have seen a lot of interest from the local buyers looking to invest into property with immediate return. With this particular lease expiring in 2016, the property was hotly contested.”
Mr Riches said the facility is positioned in a recently developed Caboolture industrial precinct and is one of the biggest transactions that have occurred in the estate in the last 12 months.