In an off-market transaction, a private investor has purchased an industrial facility in Yatala for $11.862 million.
The modern 8,664sqm tilt slab building is positioned on a 1.71 hectare site at 30 Union Circuit and is tenanted by Vulcan Steel with approximately four years remaining.
Adam Wills and Stewart Gamblin of Colliers International negotiated the sale with a short settlement period. Mr Gamblin said the buyer was looking for a modern building with an associated depreciation benefits and a secure income.
“Currently we are seeing a trend where industrial investments such as these are selling off-market to active investor groups who don’t want to compete with other buyers in the market. So if the financials stack up they quickly proceed to contract to secure the property.”
“The large facility is designed to suit various users in engineering, manufacturing or logistics industries. It features seven 10 tonne cranes which fully service the facility. The clearspan warehouse was also designed with a truck drive through and drive around capability for all weather loading and unloading.”
Mr Wills said Yalata has continued to perform well this year and with several other transactions nearing finalisation, we are forecasting continued growth in the area into 2016.
“Many of the businesses in the precinct are well established now and as they grow they have a strong preference to remain in Yalata. This is coupled with increased levels of interest out of the Gold Coast and Brisbane from large scale tenants looking for new cost effective warehousing,” said Mr Wills.
Daniel Shafferman, Director of Real Estate Management at Colliers International played an integral role during the transaction, assisting the purchasers in their due diligence. Colliers International also secured the management of the property.