Sims Ltd, a global leader in metal and cloud infrastructure recycling and an emerging leader in municipal recycling and renewable energy industries, has purchased a 14-hectare industrial waterfront facility at 69 Tingira Street in Pinkenba, on the Brisbane River for $88M from Sentinel Property Group.
The facility comprises a rare waterfront, liquid and bulk storage facility with a combined area of 26,676 sqm of buildings including high-clearance warehouses and administration facilities.
It also includes a 1.5-hectare seabed lease facilitating a wharf suitable for Handymax vessels allowing the purchaser to continue its exporting operations directly from the property.
The site appealed to Sims Ltd due to its land size, location and access to one of the few deep- water berths in Brisbane.
“Tingira Street offered an asset that was instrumental to Sims’ business strategy,” Toby Hundertmark from Savills said.
“Our client, Sentinel Property Group, seized an excellent opportunity to sell the property to an owner occupier with strong sustainability credentials and a long-term vision, who will put the property to its highest and best use.”
According to Savills the Pinkenba location is highly sought after because of its prominence within the premier Australia Trade Coast Precinct, which incorporates the Port of Brisbane and Brisbane Airport and delivers air, land, and sea logistics capabilities.