This article is from the Australian Property Journal archive
A LOCALLY owned and operated engineering design and manufacturing business has paid $2.23 million for an industrial office and warehouse facility in Brisbane’s south-west.
The deal was negotiated by Savills’ Ben Donnelly.
Located at 795 Boundary Rd Darra, the facility features 1,880 sqm of clear span warehousing, 230 sqm of air-conditioned ground floor office accommodation on a total site of 4,868 sqm.
Donnelly said the property was listed exclusively for six months with other agencies, however received limited interest from buyers during this period.
“Once the property was given to Savills to take to market, we had an offer on the table within 24 hours and had a deal agreed within 72 hours,” he added.
“The buyer had been leasing for a long time and wanted to own property rather than lease – especially with the current interest rate environment,” Donnelly said.
The purchaser, Products for Industry, is said to be completing an extensive refurbishment for suit their business requirements.
Australian Property Journal
