Local owner occupiers in Acacia Ridge are buying up industrial properties at auctions for value add opportunities and to future proof their businesses.
Two facilities in Acacia Ridge were sold under the hammer for a total of $1.945m at recent Colliers International auctions.
“Local buyers are looking for opportunities to grow their business as well as add value through refurbishments and further development onsite,” said Philip Stephens of Colliers International.
“Owner occupiers are the most active group in Acacia Ridge at the moment and we are seeing an increase in competition with properties of varied quality selling under the hammer.
“Stock on market is in short supply, and we see this tightening further. There is a consolidation in the sale value, but not a huge change in capital growth. Unlike leasing rates, capital values are certainly stable and in some cases achieving above vendor’s expectations.”
42 Activity Street, Acacia Ridge $1,100,000
The 1,275sqm industrial freestanding facility was sold under the hammer for $1,100,000. Six registered bidders delivered 8 bids with the property eventually selling at $30,000 above reserve. The purchaser who is a local owner occupier has sold it to the current vendor 30 years ago for $400,000. Marketing campaign which was run by Philip Stephens and Levi Maxwell attracted over 20 enquiries and 11 inspections. The building is on a 3,736sqm flood free site, and features concrete hardstand and wash bay, and 3 phase power throughout.
135 Bradman Street, Acacia Ridge $845,000
The 577sqm vacant workshop, attracted 7 registered bidders on the auction day. It sold under the hammer for $845,000 to the local business owner planning to refurbish the building and lease it out. The campaign which was led by Philip Stephens and Alister McDermott attracted 30 enquiries and requests for information. The building is on a 2,992sqm flood free site and features concrete hardstand and wash bay, 3 phase power throughout.
Acacia Ridge is located approx. 13 kilometres south of the Brisbane CBD and is a part of Brisbane’s core southern industrial precinct. It is positioned close to key infrastructure including the freight rail network, major arterial roads including the Ipswich Motorway and The Port of Brisbane.