An office/warehouse at Virginia in Brisbane's north has been sold by Ray White Industrial Milton for $880,000.

The property on a land area of 1,041 sqm at 2/86 Yarraman Place, Virginia, was sold to a private investor as a leased enterprise for GST purposes by Ray White Industrial Milton Principal Paul Anderson.

Mr Anderson said the industrial facility was sold off market by private treaty.

"Due to pent up demand from buyers, we placed the property in one day of listing," he said.

"There was a lot of interest from investors looking for property in the $1 million price range.

"The Reserve Bank of Australia lowering its cash rate to record lows has marginalized the returns of investors with bank deposits."

Mr Anderson said the 450 sqm warehouse facility was in a prime location and offered a substantial yard and marshalling areas.


ENDS

Further inquiries:

Paul Anderson
Mb: 0438 661 266

Media contact:
Steve Connolly
steve@crookpublicity.com
+61 7 3225 4511

About Ray White Industrial Milton
Ray White Industrial Milton was listed among Queensland's top 400 companies in 2011 with property sales of more than $100 million since commencing operation in 2009. Established by co-founders and Principal Agents Paul Anderson and Stephen Ferguson, the firm is looking to expand its business in the Brisbane industrial market.While based at Milton due to its central location, Ray White Industrial operates in areas stretching from Brisbane's outer north to the eastern suburbs and is intending to push further afield into the southern suburbs.