This article is from the Australian Property Journal archive
MFS Diversified Trust has sold its freestanding office and warehouse building at 46 Steel Place, Morningside in Queensland to an undisclosed buyer.
The property is consists of a freestanding office and warehouse building situated approximately six kilometres south east of Brisbane’s CBD.
The building has a lettable area of 1,457 sqm on a site area of 2,798 sqm.
The property is fully leased to Serum Ventures Pty Ltd for a period of five years expiring May 31, 2009, with a five year option.
The property was recently valued at $1.5 million by CB Richard Ellis as at December 31, 2005.
The sale of 46 Steel Place is part of a portfolio of non-core assets MFT has earmarked for sale.
The portfolio includes other industrial properties in QLD and offices in QLD and Victoria.
The portfolio is expected to fetch $44.3 million for MFT.
Meanwhile, MFT has mooted more than $72.3 million worth of assets to be acquired including two retail properties in Queensland, one industrial property in New South Wales and three pubs in Queensland.
By Adam Parsons
