Family adds to growing portfolio
COLLIERS International Toowoomba continues to sell quality assets with another successful deal completed at the Officeworks building, 177–179 Hume St, Toowoomba City.
Markus Eames of Colliers managed to secure an off-market deal to local investors, the Collins family.
“The Collins secured this outstanding property for $7,475,000 which represented a mid 7% yield,” Mr Eames said.
“This asset was appealing to the Collins family given the strong tenant covenant being Officeworks, the high-profile location and the lease terms and conditions.
“The building has a net lettable area of 1779sq m on a 3933sq m allotment.
“The property is highly exposed on one of Toowoomba’s busiest roads and is a nationally recognised Officeworks big blue building.”
Mr Eames said the Collins family owned several commercial buildings in Toowoomba including the Range Shopping Centre but had had their eye on the Officeworks building for quite some time.
“This sale is on the back of over $80,000,000 worth of sales that the Colliers team has successfully negotiated in the past six months, which is a testament to Toowoomba’s bullish commercial market,” he said.
Colliers International has a number of off-market opportunities. For more information contact Mr Eames on 0407 388 856.