The 3.42-hectare property at 262 Orchard Road, Richlands will accommodate a new 12,000sq m logistics facility, of which Coca-Cola Amatil will lease 7,400sq m for an 8-year term. The development once complete will generate over $1.4m pa in net rental. The facility will operate as a storage, distribution and repair facility for refrigeration units, vending machines, beverage dispensing equipment and promotional material.
Savills Industrial & Logistics has been appointed exclusive sales agents, with the program to be coordinated by Michael Fenton, Michael Wall and Callum Stenson.
According to Callum Stenson, the offering will attract broad institutional and private investor interest. The opportunity to acquire a new logistics facility with a long lease to such a quality covenant in one of Brisbane’s primary logistics locations will see participation from both domestic and offshore groups.
The sale process will commence shortly with first round bids due in mid-September.