Continued market strength with Brendale industrial site sold for over $3 million14 November 2023
In a sign of the continued strength of the industrial market Colliers Queensland has transacted a $3.03 million off-market sale of a 2033 sqm industrial site in Brendale.
Colliers Queensland Executive Industrial Jared Conway secured the deal, at 20 Pinacle Street Brendale, selling to an interstate investor.
“This transaction underlines continued demand for quality industrial investment assets within the Brisbane region,” Jared Conway said.
“The industrial occupier market is particularly tight, with continued demand for land and hardstand driving record breaking sales and leasing transactions, with no signs of slowing down.
“This property presented the buyer with a rare opportunity to secure a freestanding investment within this tightly held precinct of Brendale.
“The buyer was attracted to the long term established business in the leaseback agreement, 3 year lease plus 3 year option, as well as the underlying fundamentals of the built form of the asset.
“The recent cash rate pauses have noticably changed buyer sentiment with a lot of groups who were previously ‘on the sidelines’ now a lot more eager for opportunities.
“The sale reflected an initial yield of 6.17 per cent which is a great result.
“This is a high quality freestanding manufacturing facility, located in the sought after Brendale industrial precinct with a 1208 sqm workshop facility situated on 2033sqm site.
The asset is improved by multiple internal cranes and significant three phase power supply,” Jared Conway added.