Brendale manufacturing facility changes hands for over 8m
Brendale manufacturing facility changes hands for over $8m
| 28 June 2019
Australian Unity has purchased SWC Management’s newly constructed manufacturing industrial facility in Brisbane’s Brendale for $8,114,250.
The property comprises a 7,099sqm premises with a gross floor area of 3,800sqm and an
adjoining 4,070sqm of land earmarked for future development.
CBRE’s Hugh Adnam, Dillon Murphy and Edward Bull negotiated the sale of 133 South Pine Road, with a 10-year leaseback to SWC, following an Expressions of Interest campaign.
Mr Murphy said the Expressions of Interest campaign closed after multiple offers to purchase, securing an initial yield of 6.6% on the occupied premises. A pre-commitment tenant is being sought for the adjoining vacant land.
“Australian Unity were looking for a long WALE asset to complement the other properties contained within its property income fund,” Mr Murphy added.
“The site also has vacant land with plenty of scope for additional development.”
SWC originally engaged CBRE to run a market leasing brief in 2018, in search of a new manufacturing facility on the northside of Brisbane.
Following this process, the sub-contracting services provider decided upon the design and construct facility on South Pine Road – securing a pre-commitment with developer Vanriet.
This was the last allotment of land in the estate, closing out the project for Vanriet.
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