This article is from the Australian Property Journal archive
SELF-storage company SIA (Storage Investments Australia) have acquired a distribution and food production warehouse and showroom in Augustine Heights, Queensland.
The circa 5,083sqm freestanding concrete tilt-panel building occupies a 7,000sqm fully fenced and secure site at 27 Technology Drive.
The property boasts excellent nine metre internal warehouse height for the 2,930sqm warehouse with accessibility via three roller doors, 36 onsite car parks and additional street parking, signage opportunities to the motorway and 969sqm of corporate office space across two levels.
Matt Richards, Toby Hundertmark and Lachlan Jacobs from Cushman & Wakefield managed the sale of the property, with the vendors, owner-occupiers SNJ Properties making in $9 million to $11 million in the transaction.
The site was last sold in January 2012 for $3,190,000.
SIA has earmarked the site for further internal development, with the property appealing for self-storage due to its favourable zoning, access and connectivity.
The property is strategically located in one of South-East Queensland’s key corridors and sits within the Springfield Land Corporation.
This in addition to the direct access to the Brisbane CBD provided by the Centenary Motorway.
Within the self-storage asset class, more than $71 million in industrial and self-storage units recently sold off-the-plan at Sydney property development company Hannas’ Arc Lane Cove.
With Abbotsford’s former Kodak building and Carlton & United Breweries headquarters set to be utilised as a self-storage facility, after selling to Howzit My China Pty Ltd. for $19 million.
