4WD Supacentre secured 9,300sqm of industrial space in a deal between the retailer and developer Felton Property Group – reflecting the largest lease deal for the Moreton Bay region in 2020.
CBRE’s Hugh Adnam and Dillon Murphy negotiated the six-year lease between the incoming tenant the Brisbane-based industrial and commercial developer.
Proving to be hot property, the facility at Lot 4 Belconnen Crescent in Brendale was recently purchased in an off-market deal by Investec at $15,624,000 (excluding GST), equating to a 6.25% yield.
The sale was marketed by CBRE’s Edward Bull, Hugh Adnam and Dillon Murphy and attracted strong interest from a number of national property funds, with Investec leading the pack and securing the asset on a fund through basis.
Mr Bull said; “The quality of the asset and tenant covenant attracted the purchaser to the site.”
Commenting on the lease deal, Mr Adnam said; “The deal was struck by for multiple reasons, including the competitive price – $105 per square metre (net), plus outgoings – and the functionality of 9,000sqm warehouse and 300sqm office on 21,078sqm, or 44% site cover, which many developers are not able to offer.”
“With its business expanding significantly, our team has been working to find 4WD Supa Centre a new home from Brendale to the Trade Coast over the past two years and the property at Lot 4 Belconnen Crescent is a great result,” Mr Adnam continued.
The freestanding warehouse and online fulfilment facility is located near TJM distribution centre, Super Retail Group and Aldi distribution, 20 minutes north of Brisbane Airport.
“Moreton Bay is well-positioned to build a profile and keeps proving an industrial hot spot,” Mr Murphy said.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
