AUSTRALIA TRADE COAST PROPERTY SELLS FOR $10.3M

Written on the 15 November 2016

AUSTRALIA TRADE COAST PROPERTY SELLS FOR $10.3M CLARENCE Property has purchased its first industrial investment for $10.3 million, on a yield of 7.5 per cent, within the Australia Trade Coast precinct.

The property will diversify the Westlawn Property Trust, which currently consists of commercial and retail assets as well as land developments.

The facility was built in 2007 and comprises of five units over 6,185sqm gross floor area at 45 Alexandra Place in Murarrie. 

John Slater, Director of Industrial at Colliers International negotiated the off-market transaction on behalf of the vendor OzProp Capital, based in Broadbeach.

"Clarence Property have been looking at getting into the industrial market, and approached us with a buyer mandate to add to their Westlawn Property Trust which currently has over $200 million in assets," says Slater.

"We went out to market targeting properties that fitted their requirements. There is a lot of money in the market currently to buy, but a real shortage of appropriate assets to reinvest into.

"We approached OzProp Capital with the opportunity, and in the end negotiated the price that they were happy with.

"This A-grade asset ticked all the boxes in terms of value, location and the fact it was multi tenanted, which spread the risk of lease expiries. The WALE is approximately 2.5 years, with blue chip tenants such as Australia Post and TAB ensuring a solid rental income stream.

"The building has a very unique aspect, consisting of a corporate façade and high quality offices at the front, with warehouse and roller door access positioned at the back.

"The property is strategically located within a five kilometre radius of both the International and Domestic airports as well as the Port of Brisbane, Gateway Motorway and Murarrie station. The Brisbane CBD is 10km away," Mr Slater said.

Clarence Property is a diversified funds manager with a portfolio of over $500 million in assets, spread across 10 funds. Their projects represent a mix of commercial and residential projects, from shopping centres to office buildings and continue to seek further opportunities.

Latest News

AUSTRALIA READY TO DISRUPT GLOBAL CARBON FIBRE MANUFACTURING

AUSTRALIA for the first time has the capacity to produce carbon fibre from scratch and at scale, following the launch...

HONG KONG FUND INVESTS $212.8 MILLION IN G8 EDUCATION

G8 EDUCATION (ASX: GEM) has secured $212.8 million from Hong Kong-based CFCG Investment Partners to pay down debt and...

MERGER DELIVERS THE FINANCIAL GOODS FOR TERRY WHITE

TERRY White Group has posted a solid half-year net profit of $1.3 million amid a period of major transformation fo...

BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE Sky Alternative Investments (ASX: BLA) has appointed two new independent, non-executive directors to its board: ...

Related News

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter