This article is from the Australian Property Journal archive
A BRAND new Tingalpa industrial complex developed by R4 Property Group has quickly sold 11 or its 14 units for a total of $3.225 million, including 10 sales off the plan.
Ray White Commercial’s Jack Gwyn and Jared Doyle have handled the sales campaign for the storage business facility The Annex at Lot 19/240 Old Cleveland Road in Brisbane’s east. Units on the 2,000 sqm site range in size from 69sqm to 95sqm.
The first 10 units traded at prices from $269,000 to $315,000, Owner occupiers picked up six of those, while two are business premises and four will be used for storage.
Each of the tilt-panel complex units has warehouse space, amenities and mezzanine.
“The Annex development piqued a lot of interest from buyers who saw potential for the units beyond simply storage,” Doyle said. “With residential space in Brisbane increasingly at a premium, people are looking for solutions to store caravans, motorhomes, cars and boats or for recreational pursuits,”
Doyle said small construction, painting and medical-research businesses were also attracted to the facility.
Investors have bought the other five of the 11 units sold, one of which has been leased to a painting business, while the remaining four investor-owned units are available for lease.
The three remaining units are available for sale from $269,000, or for lease from $20,175 per annum.
Australian Property Journal
