A WRAP up of commercial property investment sales, as well as leasing transactions across Australia.
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Industrial
Birtinya, QLD
High-profile developer Pellicano Group has sold the final strata lot of its Birtinya project on the Sunshine Coast for $4.475 million.
The Building 1 allotment at 10 Capital Place has a gross floor area of 1,137 sqm, which is split into three separate tenancies and leased to national tenants Totally Workwear, Fire Fit and Jetts Fitness.
CBRE’s Matt Marenko and Jack McCormack managed the expressions of interest sale, receiving 90 enquiries during the campaign, with five offers presented.
The buyer is a private investor from Melbourne who used the services of a buyers’ agent to assist them with due diligence. The sale price reflects a yield of 6.23%, with a longer settlement negotiated to allow the seller to receive further rental income.
“We attracted a large range of enquiries, primarily from Brisbane, Sydney and Melbourne, from buyers who perceive the Sunshine Coast to be a safe investment option given the extremely low vacancy rates across all sectors of the Sunshine Coast property market, coupled with the region’s rapidly growing population,” Marenko said.
Pellicano Group constructed the Birtinya complex in 2009 as 15 tenancies before electing to strata-title the complex in 2020 into five lots.
Rocklea, QLD
A clothing recycling business has paid $1.6 million for a 674 sqm office and warehouse in Brisbane’s south west.
The purchaser is associated with Melbourne-based SCR Group, which diverts more than 30,000 tonnes of unwanted clothing away from landfill each year.
The property, on a 2,215 sqm site at 15 Station Street, was previously occupied by Customised Traffic Management, part of the Avada Group, which has relocated to Staplyton.
Raine & Horne Commercial managed the deal.
Dandenong South, VIC
Family-owned and operated Pact Heating & Cooling has leased a 1,510 sqm state-of-the-art facility in Melbourne’s south east in an off-market deal.
Crabtrees Real Estate’s Tim Homes, Gavin Dumas and Joe Monea have brokered the lease of 20-22 Smeaton Avenue at $226,500 per annum.
The facility has double-storey corporate offices, high and bright warehouse, lift access and amenities on both levels, front and rear roller door access plus ample parking.
