Colliers transacts 2.4ha Narangba industrial asset leased to a major global building materials group.
An industrial site in Narangba has transacted for $17.4 million, with property development and investment company Seymour Group securing the tenanted asset amid continued investor interest in Brisbane’s northern industrial market.
Colliers’ industrial team of James Wilkie, Angus Yule, Hugh Fletcher and Beau Newman negotiated the sale of 44–56 Potassium Street on behalf of a private family owner following an exclusive, on-market sales campaign.
The 24,020sqm freehold property is occupied by Cubis Systems, a leading manufacturer and distributor of underground electrical, telecommunications and civil infrastructure products, operating under Infrastructure Products Australia (IPA), a subsidiary of CRH, a Fortune Global 500 company.
Colliers Industrial & Logistics Associate Director James Wilkie said the sale reflected investor demand for established industrial assets offering income security and long-term growth potential.
“Investors continue to recognise the value of well-located industrial assets that combine an established occupier, strong underlying fundamentals and the potential for future income growth,” James Wilkie said.
“Potassium Street offered a substantial industrial footprint in a tightly held northern corridor, with the property’s established occupier and affiliation with a major global building materials group contributing to its investment appeal.
“The property offers flexibility for a broad range of industrial uses, with potential rental reversion and the possibility of splitting the property to accommodate a broader tenant market, providing further upside.
“This transaction is another example of capital being deployed into quality industrial opportunities where supply remains constrained,” James Wilkie added.
The site features a 3,405sqm metal-clad warehouse, 530sqm of office, alongside 40 marked car spaces, triple street frontage and full drive-around access.
Colliers’ Industrial & Logistics Executive Hugh Fletcher said Narangba’s position within the expanding Moreton Bay region continued to support demand for industrial property.
“Population growth, infrastructure investment and demand for industrial services are supporting the northern corridor’s long-term outlook,” Hugh Fletcher said.
“Assets of this scale, particularly those with established income, strong access and the flexibility to accommodate a range of industrial users, are increasingly difficult to replicate in established precincts.”
Colliers’ Industrial & Logistics Executive Beau Newman said, “The vendor sold the asset as part of a broader portfolio diversification strategy, with the established tenancy, substantial landholding and potential for future income growth among the property’s key investment attributes.”
Located within Narangba’s established industrial precinct, the property benefits from access to major arterial roads and the Bruce Highway. The transaction highlights continued investor interest in established industrial property across Brisbane’s northern corridor.
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