This article is from the Australian Property Journal archive
A BLUE chip industrial factory on the Gold Coast has sold for $10.7 million in a sale and leaseback deal negotiated by Colliers International.
An undisclosed private Queensland investor snapped up the property at 11 Elysium Road in Carrara, after a formal tender campaign, which attracted more than 45 enquiries.
The vendor, ASX 100 publicly listed company Downer EDI Limited, manages its Roche Mineral Technologies Pty Ltd subsidiary from the site.
The group has entered into a new five year lease, with three five year options, for a starting net return of $780,975 per annum, equating to a yield of 7.1% after land tax.
The 1.64 hectare site boasts substantial building improvements totalling 6,180sqm, including a 1,275 sqm main administration building, a 599sqm laboratory, a 3,361 sqm factory and a 945 sqm workshop.
It also includes external parking for 101 vehicles and a further 16 spaces in the administration building’s basement. The two-level building also features ducted airconditioning.
Colliers International Gold Coast agents Brad Johnston and Leonie Smith said the majority of interest had come from trusts and private investors located along the eastern seaboard.
“Investors were attracted by the quality of the tenant, Roche Mineral Technologies Pty Ltd, along with the long term lease back deal on offer.
“The substantial size of the land and building space, along with its prime location and potential for expansion, also made it an appealing investment,” Johnston said.
“This particular precinct is in high demand because of its central location and proximity to the motorway, which provides easy access to Brisbane, the Tweed and all areas of the Gold Coast,” Smith said.
Australian Property Journal
