The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterThu 25 Jun 15

Rocklea Industrial Sells For $6.25 Million

A

A Melbourne investor group has purchased a major Rocklea industrial facility for $6.25 million on a yield of 8.4 per cent and 12 year leaseback arrangement with Tutt Bryant Group Limited.

National provider of industrial hire services and construction equipment sales, Tutt Bryant operate their Queensland head office from the premises, as well as a warehouse and distribution centre and a sales and display yard.

They purpose built the facility in 1998, and have occupied it ever since.

Marketed by Matthew Frazer-Ryan and Levi Maxwell of Colliers International, the property was hotly contested with 49 enquiries received from around Australia.

ALSO SEE: White Paper Review Lists 7 Key Impressions of a Brighter Brisbane City

Mr Maxwell said they shortlisted two parties with the end buyer being an interstate investor who saw the property as a great investment due to its long term lease to a stable covenant and ideal location.

“The buyer’s view is that the site may have a higher and better use in the future given its main road exposure. In the meantime there is a solid income stream with Tutt Bryant Group utilizing all the facility’s attributes such as washbay, crane and display yard,” Mr Maxwell said.

Located at 14 Ashover Road, the property offers low site cover featuring a 19,490sqm block and a 3,203sqm freestanding office and industrial facility with significant main road exposure.

It is positioned in a prime industrial and commercial precinct with excellent arterial and local road access. Nearby occupiers include Bunnings Warehouse, Amcor Packaging, BOC Gas, Harvey Norman and other significant national operators.

According to Colliers International Industrial research report the investment activity in south Brisbane was dynamic in the first half of 2015.

Nine sales were registered in the region during this period, with a combined value of $104.7 million. The largest transaction was Centuria’s $22.2 million purchase of 13,774sqm warehouse which is fully leased to BlueScope Steel with a WALE of 10.9 years and yield of 7.76 per cent.

IndustrialAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
View All >
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca
Sponsored

Rare Coastal Development Opportunity in Heart of Mooloolaba

Partner Content
A rendering of the three-storey apartment project Arca by Red & Co at Stafford near Brisbane.
Residential

‘Confident’ Red & Co Starts Work on Stafford Apartments

Marisa Wikramanayake
The developer has opted to start building without pre-sales, so sure are they that families in the area will need housin…
LATEST
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca
2 Min
Development

Rare Coastal Development Opportunity in Heart of Mooloolaba

Partner Content
2 Min
A rendering of the three-storey apartment project Arca by Red & Co at Stafford near Brisbane.
Residential

‘Confident’ Red & Co Starts Work on Stafford Apartments

Marisa Wikramanayake
2 Min
Charter Hall’s $925m Hyde Park skyscraper
Planning

Charter Hall $925m Sydney Skyscraper Wins City Backing

Vanessa Croll
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/rocklea-industrial-sells-6-25-million