Newly spec built industrial facility situated on the Brisbane’s Logan Motorway in Parkinson, has sold for $6.925 million at 7.29 per cent yield to an investor from Victoria.
The investor secured the property right after it was leased to Transport Management Solutions on a 5 year lease with a 5 year option and annual rent of $505,050.
Located at 39 Resource Street, the brand new 4,810sqm 10m high concrete tilt panel construction warehouse was speculative built by the local developer Guy Burgess.
“We introduced Transport Management Solutions to the property one month prior to completion of the building,” said Levi Maxwell, Manager of Industrial at Colliers International who leased and subsequently sold the building.
“They were previously located in a flood affected property in Rocklea, and after inspecting five different properties they decided this new building was the best fit.
“Interestingly four out of the five properties they inspected have now transacted. We have had great success this year with properties ranging in size between 1,000sqm to 5,000sqm.
“Activity is coming from both tenants and owner occupiers thanks to the business growth and them taking advantage of continued low cost of funds.”
The property is situated on the 8,665sqm corner site that is accessed via dual street crossovers. The warehouse has access via 8 container height roller doors and has 354sqm of corporate office space over two levels with amenities.
Property has easy access to the Mt Lindesay Hwy, Logan Motorway and Gateway Motorway. It is also situated less than 700m away from Browns Plains Plaza.