Apollo Tourism’s recent acquisition of Kratzmann Caravans has sparked a sale and leaseback of the company’s Queensland headquarters for $10.33 million.
Located within the Burpengary Business Precinct, between Brisbane and the Sunshine Coast, the 20,480sqm property has been occupied by Kratzmann Caravans for the past decade.
The sale follows the recent takeover of Kratzmann Caravans by the ASX-listed Apollo Tourism & Leisure.
CBRE’s Hugh Adnam and Dillon Murphy negotiated the sale of the property, which was underpinned by a new seven-year lease back to Apollo Tourism & Leisure.
The property, which comprises a building area of 4,982sqm, was sold on a yield of 7% and 7-year WALE.
Mr Adnam said the sale highlighted the strength of demand for secure, blue-chip investments.
“This was a fantastic result that enabled Kratzmann Caravans to exit the business, whilst also providing a strong blue-chip investment opportunity for the successful purchaser,” Mr Adnam said.
“The property’s new lease to the now ASX-listed tenant was a major selling drawcard that attracted widespread interest from both local and interstate investors.”
The property benefits from 140 metres’ frontage to Bruce Highway, providing exposure and signage to approximately 160,000 vehicles passing daily.
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