This article is from the Australian Property Journal archive
AIR conditioning manufacturer, Advantage Air has bought a vacant warehouse at Eagle Farm in inner Brisbane for $4.6 million.
Colliers International’s director of industrial Anthony White negotiated the sale of 359 Fison Avenue with Michael Callow of Wright Property.
White said Advantage Air needed to relocate after running out of space at 320 Fison Avenue.
He added that they will be moving their expanding business into the 4,587 sqm facility, which is twice the size of their current premises.
The 4,587 sqm facility consists of office, warehouse and manufacturing space on a land area of 10,060 sqm. There is also onsite car parking for 150 vehicles.
White said the property was offered to the market via a four week expression of interest campaign which attracted substantial interest.
“Multiple enquiries and several offers that were received underline just how attractive Eagle Farm is to both investors and owner occupiers.
“The opportunity to purchase a freestanding manufacturing and warehousing facility within Eagle Farm rarely comes up and Advantage Air moved quickly to secure it. The timing ideally suited them as their lease at 320 Fison Avenue was coming to an end,” he added.
Advantage Air’s director Margaret Devoy said the company’s Queensland business has experienced growth of more than 200% over the past two years.
“In recent times there has been a lot of talk about the end of manufacturing in Australia. However Advantage Air has shown that innovative Aussie made products can still succeed against international competition. All of our main competitors are now manufacturing overseas, but we are very proud to continue manufacturing in Australia and employ 100 staff nationally.
“More than 80% of what we sell is made by us here in Australia and we want to keep investing in innovative products and hope to continue to grow in the future,” Devoy said.
Property Review
