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TradeCoast freestander sells at auction for $4.5m

A vacant industrial 3,300sqm facility in Murarrie has sold under the hammer for $4.5 million to a North Queensland based investor who plans to begin refurbishing it immediately. 

The 6,053sqm site is located at 35 Alexandra Place, approximately 8 kilometres east of Brisbane CBD and within 500 metres of the Gateway Arterial.

“The modern tilt panel facility has been up for lease since February, with the previous owner recently deciding to take advantage of the strong local market and put it up for sale,” said David Gibson of Colliers International who marketed the property with his colleague Anthony White and NAI Harcourts’ agent Jason Luckhardt.

“We received strong interest throughout the seven week campaign from both owner occupiers and investors. This increased activity is due to the lack of quality freestanding buildings for sale in the area, and the low interest rate environment.

“Out of the four registered bidders on the day, the highest bidder was an investor who was attracted the intrinsic value of the property, and proximity to major arterials as well as the value add opportunity that a refurbishment program offers.”

The warehouse includes 600sqm of office space over two levels, eight container height roller doors with great truck access and two bays serviced by 2 gantry cranes up to 3.2 tonne capacity. The site has generous onsite car parking with huge concrete apron.

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