Cerno Real Estate investors have purchased the Rocklea Industrial Site for $20.1 million.
Colliers sold the 58,902 sqm site on behalf of Frasers Property Industrial. Located at 44 Cambridge Street, the site is centrally located within Brisbane’s logistics market.
The site has a lease term of 7.5 years and features easy access to the heavily sought-after fresh produce Brisbane markets.
Simon Berine, the Queensland Chief Executive Officer, says investment in the area has been increasing in recent years.
“Industrial investment activity in Brisbane is at an all-time high, buoyed by solid investment in road infrastructure, connectivity and population growth,” Simon says.
The markets occupy 77 hectares of land and consist of over 300 fruit and vegetable wholesalers. The market itself sits only 300 meters away from the Rocklea Industrial site.
Simon says the markets themselves are an essential component contributing to the liveability of the area.
“The market, comprised of the Brisbane Produce Market, Flower Markets and Market Place, are a critical piece of the food supply chain into Brisbane and Queensland,” he says.