This article is from the Australian Property Journal archive
A PRIVATE investor looking to take advantage of the TradeCoast’s strong leasing market has acquired a corporate style office and warehouse facility in Murarrie for $3.87 million.
The vacant 4/29 Smallwood Place building is within the Metroplex comprises 550 sqm of office space and 1,446 sqm of clearspan warehouse for a total area of 1,996 sqm.
It was offered with the ability to be split into three smaller tenancies within the building of up to 850 sqm.
David Gibson and Bevan Galloway of Colliers International negotiated the sale via expressions of interest.
“Like most Metroplex listings, we saw strong demand from investors and owner occupiers throughout the short campaign with a total of five formal offers. Tenants also showed interest, however the preference from the vendor was to sell as their business plans to focus on their operations in other states,” Gibson said.
“The southern TradeCoast precinct is also going through an interesting period with a large buyer pool for assets of this nature and minimal stock on the market for sale – this is resulting in highly competitive campaigns.”
The 6,076 sqm freestanding facility is leased to the transport and logistics giant until 2022, and returning just under $790,000 per annum.
Australian Property Journal