A sale & lease back of an industrial asset in Toowoomba has netted owners FKG Group $22m.
The property at 275-283 McDougall Street Glenvale sits on a 3.5ha strategic land holding and leased to multi award winning construction and engineering company in FKG on a new 9 year triple net lease.
The lease provides an annual net income of $1,550,000 with 2.5% annual increases through to 2029 with options until 2047.
The buildings provide FKG with a gross floor area of 7,011m² with substantial hard stand areas and 178 car parks.
LJ Hooker Commercial’s QLD Investment Team acted for The FKG Group’s in what they described as one of the largest private transactions ever recorded in the Toowoomba region.
The sale represented a passing yield of 6.73% and was purchased by a private investor from Sydney who virtually inspected the asset prior to making an unconditional offer.
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