The RF Corval Industrial Infill Trust has acquired two Brisbane facilities at Wacol for a combined $15,800,000 amid continued demand for prime industrial and logistics assets.
CBRE agents Jack Hardy and Sean Skeffington negotiated the off-market sale of the 52 and 60 Formation Street assets on behalf of two private landlords.
Mr Hardy noted, “This transaction represents the growing desire for private entities to sell their properties off-market, capitalising on significant demand within the industrial and logistics sector, which has continued to escalate due to the sector’s resilience following the pandemic.”
The Wacol properties are situated close to the Ipswich Motorway, with further connectivity to the Logan Motorway, offering access to the wider arterial road network in South-East Queensland.
The sites have a total land area of 18,306sqm over two titles and a combined building area of 7,690sqm.
52 Formation Street has been leased long term to the ASX-listed Pact Group (PGH) while 60 Formation Street has been occupied for many years by national logistics company Rockys Own Transport.
“The properties represent large infill land holdings within one of Brisbane’s most established industrial precincts,” Mr Skeffington said.
“The sites offer significant holding income for the purchaser who has a vision to add value to the sites over time and capitalise on the lack of industrial land in the area, which has benefitted from record low vacancy rates.”