INVESTOR SEEKS TO ‘FUTURE PROOF’ BUSINESS
A SYDNEY-based paper company has secured an office/warehouse south of Brisbane as an investment and an eventual base for its expansion into Queensland.
The property at 5-7 Platinum St, Crestmead, was sold by private treaty through Colliers International’s Nick Evans and Stewart Gamblin for $2,090,980.
Mr Evans said the buyer was an opportunistic investor from Sydney looking for a high-yielding short-term investment before they open their Queensland business unit.
“They are basically future proofing their business for their Queensland expansion,” he said.
The 2222sq m C-grade brick and metal clad office/ warehouse is on a 4233sq m site with concrete hardstand.
The manufacturing facility has a specialised powder coating fit-out with ovens and sandblasting rooms.
The deal was struck on a leasing rate of 8.29 per cent and the industrial powder coating firm’s lease on the property expires in March 2020 and it has a three-year option.
Mr Evans said Crestmead has seen more activity over the past six to 12 months as the State Government sells off subdivisions to bring businesses to the precinct.