Brisbane, 26 May 2016 – A private owner occupier has purchased a cold room facility industrial parcel in Queensland’s Moreton Bay region for $1.42 million.
CBRE’s Hugh Adnam and Dillon Murphy negotiated the sale of the 694sqm building on 5,737sqm landholding at 41 Sodium Street Narangba on behalf of Lion Dairy.
The property benefits from a strategic position within the heart of Narangba industrial precinct, located in close proximity to growing residential catchments such as North Lakes and Redcliffe.
Mr Murphy commented on the deal: “A targeted canvasing campaign of food users situated on Brisbane’s north side led to a very successful campaign.”
Mr Adnam said the property offered an outstanding opportunity to acquire a site with such low site cover and fantastic truck movability.
“The property was purpose-built in 2000 to function as a milk depot. The improvements are comprised of a single building, which provides a combination of cold room, storage and office/amenities,” Mr Adnam said.
The property also includes multiple loading docks, accessed from a large concrete hardstand area.
The purchaser plans to utilise the site as is with possible plans to expand the building footprint in years to come.
The property is situated within a “general industry” precinct in Narangba, a suburb which is 30 radial kilometres north of Brisbane’s CBD, forming part of the Moreton Bay region.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.