BIG BRISBANE DEAL FOR COLLIERS

Written on the 25 October 2013

BIG BRISBANE DEAL FOR COLLIERS

A BRISBANE car dealer has bought almost 10,000 sqm of south-side industrial property in a deal negotiated by Colliers International.

Cricks Auto Group purchased the 11-15 Dividend St Mansfield site to house its corporate headquarters.

A service centre supporting its recently opened Cricks Mt Gravatt retail location at 1323 Logan Rd, Mount Gravatt East will also be located at Mansfield.

Colliers’ Marcus Webb, pictured, and Anthony White facilitated the sale on behalf of vendor APA Group, which is Australia’s largest natural gas infrastructure business owning or operating $12 billion in energy assets.

Webb says the Mansfield property went to market via a wide-ranging and high-profile expression of interest marketing campaign.

“During the eight-week marketing campaign we had over 370 views of the webpage advertising the property for sale, which resulted in 14 enquiries and three parties submitting offers to purchase the property,” he says.

“At the end of the day Cricks Auto Group made the best offer.

“They saw the opportunity to transform the site into a large corporate headquarters and service centre for the company – the latter of which will be one of their largest in Australia.”

White says the Mansfield property was offered for sale in one line or as individual components and, while there had been enquiries from buyers for both options during the campaign, Crick Auto Group had chosen to purchase the entire offering.

“The Dividend St property is a unique property, but it suited the buyer perfectly, enabling them to house not only their corporate headquarters, but also a service centre.

“In addition, there is the opportunity for Crick to expand further in time if they need to, with the vacant land providing the potential for further development.”

Webb says the level of buyer interest in the Mansfield offering is indicative of the fact that it is a unique property, but also that it is in a sought after location.

“Mansfield is a very tightly held infill location in Brisbane.

“It is a well-established industrial hub that has long been the ideal location for many national companies due to its proximity to the Gateway Motorway – which is less than two radial kilometres away – as well as the Pacific and Logan Motorways.

“Mansfield is also only around 11 km from the Brisbane CBD and is well connected to the Port of Brisbane due to its easy access to the Gateway Motorway.

“It offers excellent transport connections in all directions.”

Mr White adds the interest shown in the Dividend St site is also evidence that the industrial market is performing well.

“The number of buyers making offers, either verbal or written, for this property is a very positive indication that the market sees value in quality assets, and has confidence in the commercial property sector,” says White.

The property at 11-15 Dividend Street is comprised of two components:

Lot 1 – improved land (consisting of two separate freestanding buildings – one of which is an office building of 1340 sqm and the other is a 1545 sqm warehouse - on 7110 sqm of general industry zoned land);

Lot 22 – unimproved industrial land (a 2313 sq m vacant parcel of land).


Latest News

BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S (ASX: BAL) shares have suffered a 40 per cent drop in value today after the company hit a regulatory...

BRISBANE WATCH BRAND ADINA AIMS FOR ICONIC

ADINA watches is at a turning point in its history, 45 years after being founded by Robert 'Bob' Menzies i...

WHY YOU SHOULD CARE FOR YOUR BODY AS MUCH AS YOUR BUSINESS

ENTREPRENEURSHIP is a busy business. It can be all-consuming, but it is important not to neglect your health Y...

BULLETS BACK IN THE BUSINESS COMMUNITY

ALTHOUGH new to the current south-east Queensland sporting landscape, the Brisbane Bullets have a rich basketball ...

Related News

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

BIG W CEO QUITS AFTER 11 MONTHS

SALLY MacDonald has resigned as chief executive of BIG W ending her tenure at the helm of the struggling discount ...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter