Brisbane, 19 August 2015 –A private local investor has snapped up an industrial facility in Seven Mile Rocks for $3.06 million.
Located at 12 Counihan Road, the 4,081sqm site features a mix of warehouse and office accommodations, onsite parking, and desirable location in close proximity to major arterial roads which provide easy access to the Brisbane Airport and CBD.
The property was sold with a secure lease to blue chip international tenant AESSEAL, an established global manufacture of mechanical seals and support systems. The tenant has committed to a five year lease (ending January 2019), with option for five year extension, which provides a strong income stream of approximately $250,000 per annum.
CBRE’s Mark Gilbride and David Savoff negotiated the sale on behalf of the provate vendor, via an offmarket campaign. The sale price reflected a yield of approximately 8%.
Mr Gilbride said the high sales price achieved in the offmarket campaign is representative of the current demand in the market for well leased investment opportunities.
“The sites desirable industrial location and reputable international tenant contributed to the competitive sales campaign, with six to seven inspections conducted in the space of 10 days.”
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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 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 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.