Top tenant comes with rare package

INVESTORS are running the rule over a Yatala industrial property leased to the subsidiary of an ASX-listed company.

The two units at 34 and 34a/53-57 Link Drive have been used by OCTIEF, a subsidiary of HRL Holdings Ltd, as its head office and laboratory since 2013.

OCTIEF is an environmental consulting group, which offers a range of services including methamphetamine screening, and the assessment and management of asbestos and other hazardous materials.

It recently extended its lease until 2023 and pays net annual rent of $108,121 for the 618sq m facility.

Colliers International’s Daniel Coburn, who is marketing the units with colleague Pat Cavanagh, said the property had a prominent position at the front of the complex.

Mr Coburn said it was rare for investment properties with quality tenants such as OCTIEF to come on the market.

He said demand in Yatala was strong off the back of major occupiers coming in including OJI (occupying 24,126sq m), Beaulieu Australia (23,051sq m) and O-I Glass (30,000sq m).

Mr Coburn said demand was being fuelled by a lack of industrial land on the market in the central Gold Coast area.

“There are a lot of investors, from Brisbane, Gold Coast and Sydney, sniffing around at the moment,” he said, “the Sydney investors because the yields are so tight in Sydney now.”

The property comes with 13 carparks.

The seller is Mackay’s Paget Developers, which purchased both properties for $1.1 million in 2013.

An auction will be held at the Colliers office in Surfers Paradise at 11am on November 30.