Brisbane

Centuria taps Brisbane investor demand with sale of Bluescope Steel facility in Archerfield

Centuria Metropolitan REIT (CMA) is moving to capitalise on continued demand for long leased industrial investments with the sale of a prime Brisbane asset in Archerfield.

11 Oct 2018

Centuria Metropolitan REIT (CMA) is moving to capitalise on continued demand for long leased industrial investments with the sale of a prime Brisbane asset in Archerfield. 

CMA – Australia’s largest ASX-listed metropolitan office REIT – has appointed CBRE’s Edward Bull and Chris O’Brien to jointly steer the Expressions of Interest campaign with JLL’s Gary Hyland and Tony Iuliano.

The 149 Kerry Road property is occupied by BlueScope Steel on a long-term lease until 2025, with multiple option periods.

Located in an established industrial precinct with access to major arterial transport needs and B-double routes, the property’s flexibility and future upside are expected to be among the key buyer drawcards. 

CBRE’s Mr Bull said: “The Brisbane industrial market is attracting strong demand from investors seeking to acquire quality assets with long-term leases, underpinned by significant tenant demand and decreasing supply rates.”

The CMA asset comprises a large manufacturing and storage facility with an adjoining head office, providing a total lettable area of 13,744sqm.

There is significant external hardstand, with the existing improvements occupying just 31% of the total 44,340sqm site area.

JLL’s Gary Hyland noted; “The low site coverage provides for future development upside, with the offering also expected to have long-term tenant appeal given the flexibility of the existing improvements.”

The property is located approximately 13km south of the Brisbane CBD at the main access point to the Acacia Ridge Marshalling Yards – the main interchange point for narrow gauge and standard gauge rail changeover.

Other businesses in the immediate vicinity include Hastings Deering, Isuzu, Aurizon, Qube Logistics, and Pickles.

Expressions of Interest close October 25, 2018.
 
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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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.