Carole Park Warehouse Sold for $2.35 Million
A warehouse/office investment opportunity at Carole Park in Brisbane’s south-west has been sold by Ray White Industrial Milton for $2.35 million in a leaseback arrangement
The property at 1/140 Mica Street, Carole Park, was sold in an off-market transaction to a Brisbane-based investor by Jaems Balfour and Luke Wray of Ray White Industrial Milton on behalf of a private owner for a yield of 7.7 per cent.
Jaems Balfour said the 1585 sqm building was sold with a 3.5 year leaseback with options for net rental of $182,275 per annum.
“The Brisbane based investor was attracted by quality of the tilt panel A grade building and its proximity to the Logan and Ipswich motorways,” he said.
“As there is still very limited investment stock, off-market deals such as this are becoming more common with owner-occupiers considering a sale/leaseback.”
Luke Wray said the warehouse is located in the high-quality Carole Park Industrial Estate, Synergy Park.
“This is a popular and tightly held commercial precinct,” he said.