Proving to be hot property, the facility at Lot 4 Belconnen Crescent in Brendale was recently purchased in an off-market deal by Investec at $15,624,000 (excluding GST), equating to a 6.25% yield.

The sale was marketed by CBRE's Edward Bull, Hugh Adnam and Dillon Murphy and attracted strong interest from a number of national property funds, with Investec leading the pack and securing the asset on a fund through basis. 

Mr Bull said; “The quality of the asset and tenant covenant attracted the purchaser to the site.”

Commenting on the lease deal, Mr Adnam said; “The deal was struck by for multiple reasons, including the competitive price – $105 per square metre (net), plus outgoings – and the functionality of 9,000sqm warehouse and 300sqm office on 21,078sqm, or 44% site cover, which many developers are not able to offer.” 

“With its business expanding significantly, our team has been working to find 4WD Supa Centre a new home from Brendale to the Trade Coast over the past two years and the property at Lot 4 Belconnen Crescent is a great result,” Mr Adnam continued. 

The freestanding warehouse and online fulfilment facility is located near TJM distribution centre, Super Retail Group and Aldi distribution, 20 minutes north of Brisbane Airport.

“Moreton Bay is well-positioned to build a profile and keeps proving an industrial hot spot,” Mr Murphy said.