An opportunity has arisen to acquire a high yielding investment portfolio consisting of eight strata titled properties in Underwood’s Portal Office Park in Queensland.
The office park comprises of three office space towers that were constructed in 2008 and feature secure car parking, high ceilings and natural light. The property is located 19 kilometres south east of Brisbane’s CBD in Underwood/Springwood.
Dean Gallagher, of Gallagher Property Group, said that the Portal Office Park has received numerous broad sales enquiries from ‘mum and dad’ investors to astute investors and syndicators.
“The final piece of this project is a rare opportunity to acquire a strong high yielding low risk portfolio of numerous assets. Tenant profile is strong with the majority having taken up their option periods. Furthermore, new leases have occurred this year and the portfolio represents 100 per cent occupancy,” said Mr Gallagher.
Recently, Axial Group secured 425 square metres of office space at the office part for $365 per square metre net for three years and seven months, while Youth Lifestyle renewed 426 square metres of office space at $343 per square metre net for three years and extended a further 156square metres of office accommodation at $330 per square metre net for three years.
Tom O’Driscoll, of Knight Frank, said the office park’s high quality and corporate architectural design alongside strong strategic location is illustrated by the caliber of the current tenants which have secured office space within the estate.
“2994 Logan Road is a successful project based on its location and its attraction for service orientated businesses. The Portal Office Park has experienced ongoing strong leasing activity over the past six years with many new and renewed leases occurring in the recent six months alongside more than 80 per cent of the tenants taking up the option period,” said Mr O’Driscoll.
“2994 Logan Road offers a great opportunity to acquire a high yielding investment portfolio based on the project’s total success to date and is a unique opportunity for astute investors.”
Lachlan Hateley, of Knight Frank, said that the portfolio of eight strata titled properties at 2994 Logan Road, Underwood are being offered for sale either in one line or part.
“Although the properties are offered as separate holdings, the opportunity exists for incoming purchaser to secure all office properties as an investment portfolio,” said Mr Hateley.