The largest motorcycle dealership in Australia, MotorCycle Holdings, has relocated in Townsville after leasing a prominently-located property in the city.
The showroom and warehouse at Tenancy 1, 201-211 Dalrymple Road, Garbutt is MotorCycle Holdings’ second location in North Queensland, with a dealership already located in Cairns.
MotorCycle Holdings, which is an Australasian motorcycle retailer and distributor listed on the ASX, has more than 50 dealerships around Australia.
The Garbutt property consists of a 959sq m building with 671sq m of showroom space and 288sq m of warehouse space. It occupies a 15,529sq m block, with multiple other tenancies.
It was previously occupied by Ideal Electrical Supplies, but will be MotorCycle Holdings home for at least five years following a leasing deal negotiated by Knight Frank agents Mark Fitzgerald and Dan Place.
The leasing deal was struck at a rate of $175sq m net plus GST.
The site is located in the highly sought-after industrial suburb of Garbutt fronting one of Townsville’s main arterial roads with over 26,647 cars passing daily.
The property is surrounded by national retail tenants which include Harvey Norman, Nick Scali, Repco, Dan Murphys, Toyota, Bunnings, The Good Guys, Spotlight and Anaconda.
Adjacent tenants include Taubmans Paint, Forest One and Harvey Norman.
Mr Fitzgerald said the tenant was drawn to the property due to its size and location.
“This showroom has high exposure to passing traffic on Dalrymple Road, which was a big plus for this tenant – and others who considered the property,” he said.
“We had strong enquiry for this property, with a vast array of users showing interest in tenanting the asset.
“Ultimately we secured an A-grade tenant covenant and long lease for the landlord.”
Mr Place said limited stock of quality assets was driving large enquiry for similar properties in Townsville.
“We have a list of users on our database now that missed out on this asset, and are looking for something of the same nature to occupy,” he said.
“The lack of available stock is not only seeing properties snapped up quickly when they become available for lease, but is also underpinning rents, which are continuing to rise.”
Related Articles
