Industrial sales and leasings highlight appetite for Brisbane sites

A NUMBER of recent sales and leasings in the industrial site sector has highlighted the appetite that buyers, investors and owner-occupiers have in industrial assets around Brisbane.

Ray White’s Industrial Sales and Leasing Agent Harry Egan has successfully sold and leased multiple properties within the south west industrial corridor.

Mr Egan said interest for industrial assets was diverse, having taken enquiries from private companies as well as buyers looking for investment opportunities.

“We recently sold 7+8/101 Jijaws Street in Sumner for $610,000 which was reflective of a 7.3 per cent yield. Through the campaign we fielded double figure enquiries with four final offers, coming from both local and interstate parties,” he said.

“This property anchored by Beaumont Tiles had been marketed previously with an expiring lease but the asset was sold after the tenant re-signed to a fresh lease, which renewed investor’s interest due to its excellent covenant and positioning.

“2/52 Overlord Place in Acacia Ridge was sold for $585,000 + GST to an owner-occupier who was moving from the southern corridor and needed extra space and greater access to major arterial roads to limit transport time.

“The size of the property at 360sq m is highly sought-after in Acacia Ridge and owner-occupiers are usually quick to jump on opportunities as quality tilt panel units are rarely available.

“This is following the trend of small businesses looking to buy in the current market, as opposed to leasing, due to a lack of suitable properties available.

“We leased the 637sq m building at 154 Boniface Street in Archerfieldat $80 psqm + outgoings + GST to C&G Timber Flooring for three years.

“It was a great opportunity for the owner-occupier as small format freestanders are few and far between in the current market, meaning while these properties often sit vacant for between 6-12 months, tenants usually look to commit to long-term leases due to lack of alternative stock.

“The 680sq m building at 3 Staple Street in Seventeen Miles Rocks was leased to Salty Pets on a 2+1-year lease at $50,000 p.a. + outgoings + GST.

“The local tenant coming out of Sumner was looking for warehousing space in the surrounding suburbs and had been actively looking for a space for three months. This was a perfect option for the business based upon their size requirements and accessibility to existing customers.”