This article is from the Australian Property Journal archive
AN office and warehouse facility in Cooper Plains in Brisbane’s south west, has been snapped up by two private investors for $6.45 million on a yield of 8.75%.
The 9,850 sqm site is located at 48 Weaver Street Cooper Plains, 12km from the Brisbane CBD.
CB Richard Ellis Edward Bull and Craig Wockner sold the property to the investors who were from the Frasier Coast. The site is zoned for light industrial use under the Brisbane Planning Scheme and comprises three warehouse/office facilities totaling 6,043 sqm, excellent truck access and 65 on-site car spaces.
The property is fully leased to Lincoln Sentry with six years remaining on the lease term with a ten year option. Wholly owned subsidiary of Alesco, the company is a supplier of hardware and components to selected manufacturing industries.
Wockner said the quality building and tenant coupled with the convenient proximity to the CBD attracted high interest in the asset.
“The property currently achieves a solid annual net income and allows the investor the flexibility of potentially splitting the building for three different tenants in the future.
“At present, there is a lack of good quality industrial investments in the precinct, which means that buildings like this are attracting high interest from investors,” he added.
Australian Property Journal
