Trust Company Australia Ltd has purchased a Darra industrial property for $14.5 million as part of a sale and leaseback agreement. The 7,110sqm purpose built cold storage facility is occupied by QffS, one of the Queensland’s top broadline food service distributors.
Located on an 11,200sqm site at 75 Ebbern Street in Darra, the property was sold off market by Adam Wills, Director of Industrial at Colliers International. Mr Wills said the new 5 year lease with 2 x 2 year options commenced upon settlement.
“Tenanted cold storage facilities of this size are rarely up for sale. They present a quality investment, especially in this case where the lease convenant is exceptionally solid. We had plenty of interested parties both locally and from interstate which included private investors and syndicators.
“The facility has been developed to a very high standard, having been purposely built for QffS in 2004 and extended in 2008. It is located in QCL Estate, one of the best industrial estates in Brisbane, with direct access to Centenary Highway, connections to Ipswich Motorway, and within close proximity to Brisbane CBD,” said Mr Wills.
The property comprises a modern office warehouse currently utilised as a cold storage facility inclusive of freezer, chiller and dry goods store, with an approved food processing (meat packaging) area.