A private investor has secured a footprint in one of Queensland’s top regional industrial locations, with the purchase of a Brendale facility for $4.7 million.
Located in the Moreton Bay region, the 9,000sqm property at 14 Kentworth Place comprises multiple buildings totalling 5,000sqm. The property benefits from absolute frontage and visibility to South Pine and Linkefield roads.
CBRE’s Dillon Murphy and Hugh Adnam negotiated the sale on behalf of a local vendor, with strong buyer demand underpinning the property’s sale prior to auction.
Mr Murphy said the property’s General Industry zoning helped underpin strong buyer interest.
“The property’s flexible zoning offers a wide range of uses that appealed to several interested groups. The high level of enquiry throughout the campaign prompted the purchaser to act quickly and exchange an unconditional contract prior to the auction date,” Mr Murphy said.
Mr Adnam said the property offered an outstanding opportunity to acquire a footprint in a prominent regional industrial location.
“The property offers a surplus benefits, including prime location, attractive transport amenity, easy access to arterial roads and long term development upside,” Mr Adnam explained.
The purchasers plan to utilise 50% of the warehouse and lease the rest, with the property’s long term development potential offers major upside for showrooms and retail.
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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 (based on 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.