Fully leased car yard changes hands twice in six months amid surging demand for premium assets
Demand for blue-chip automotive assets is intensifying, with a high-profile Morayfield site selling for $18.5 million in an off-market cash deal, just six months after its last transaction.
The fully leased 8,699sqm property at 247–249 Morayfield Road was snapped up by a neighbouring owner in an off-market deal brokered by Colliers expert Hunter Higgins on behalf of Plantation Capital Limited’s SOGIF fund.
The prominent corner site features a sprawling hardstand display yard, extensive customer parking and a modern two-level showroom accommodating major automotive brands including Kia, Subaru and Mitsubishi.
Colliers Investment Services National Director Hunter Higgins said the speed of the sale highlighted the extraordinary depth of demand for large-scale assets with both income security and future upside.
“Sites of this scale with strong holding income and long-term development potential are exceptionally scarce, and they’re being chased aggressively,” Hunter Higgins said.
“While the previous owners had planned a longer-term value-add strategy, the purchaser moved decisively to secure the asset off-market, ultimately putting forward an offer that couldn’t be ignored.”
Hunter Higgins said investors were increasingly targeting assets underpinned by resilient income streams in high-growth corridors, particularly those tied to essential retail sectors.
“Assets like this are being viewed as defensive investments, offering stable returns today with significant upside tomorrow,” Hunter Higgins said.
Currently returning $875,000 per annum, the property reflected a tight 4.7 per cent yield, underscoring the premium being placed on secure income in strategic locations.
The sale comes amid rapid growth across the Moreton Bay region, one of Australia’s fastest-expanding population corridors, forecast to reach nearly 690,000 residents by 2041.
More than $15 billion in infrastructure investment is already underway across the region, further fuelling investor confidence and driving heightened interest from both domestic and offshore buyers.
“Brisbane is entering a prolonged period of economic expansion with the Olympics approaching, and assets like this provide direct exposure to one of the country’s most compelling growth stories,” Hunter Higgins said.
“With billions in infrastructure in the pipeline and sustained population growth, the region is set to remain firmly on the radar for institutional and private capital alike.”
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