A multi-tenanted industrial estate in one of Brisbane’s infill industrial and logistics precincts is expected to sell for approximately $35 million.
The asset will be brought to market by Colliers on behalf of private investor, One Funds Management.
Steel company CitiSteel and industrial brush manufacturer Australian Brushware Corporation are current tenants.
The space offers 16,724 sqm of functional building improvements across two buildings, a strategic 38,720 sqm land holding and a net passing income of $1,629,469 per annum.
Gavin Bishop, Head of Industrial Capital Markets at Colliers, says the property’s premium tenants give the space scope to appeal to a wide market on a national scale.
“The Australian industrial and logistics sector has cemented itself at the forefront of institutional investment on a global scale and proved to be the most resilient asset class over the past year,” Gavin says.
Sean Thompson, Director of Industrial Capital Markets at Colliers, says the Queensland economy has benefited from significant government investment in infrastructure.
“Across the Brisbane industrial market we have seen a significant tightening in yields for the first half of 2021 of up to 75 basis points, driven by the sheer weight of aggressive institutional capital looking to either re-weight or gain further exposure to the industrial sector,” he says.
The property is being sold in one line by the International Expressions of Interest closing Friday, 18th of June.