Prime Industrial TradeCoast Property Changes Hands in $10 Million Off-Market Sale

A private investor has acquired 340 Curtin Avenue West, Eagle Farm for $10 million in a significant off-market sale in the TradeCoast region.

CBRE’s Braiden Farrer negotiated the transaction and said the purchaser was a prominent landowner in the area.

Mr Farrer noted the sale was a prime example of the growing demand for commercial property in the TradeCoast region, an area poised for significant growth and development.

“This property was the missing piece of the puzzle for the purchaser, who had previously attempted to acquire the asset in 2022 but was unsuccessful,” Mr Farrer said.

“The vendors had no motivation to sell unless the price was well above market value, which made this sale a true testament to the strength of the TradeCoast market,” he added.

The 8,240sqm landholding with a 1,706sqm building, is leased to Coates Hire, with a weighted average lease expiry (WALE) of 3.5 years and a net yield of 4.5%.