Local investor snaps up Willawong warehouse for $960,000

A LOCAL investor has snapped up a warehouse in Willawong, the home of Air Conditioning specialists Daikin Australia, for $960,000 at 2/17 Buttonwood Place.

The 600sq m* asset is concrete tilt panel, has an internal height of seven metres, and features a corporate office space over two levels.

The sale of the property represented a seven per cent yield and was marketed and sold by Ray White Industrial Milton Sales and Leasing Agent Harry Egan.

Mr Egan said the warehouse represented a strong opportunity and these types of offerings were seldom available to the market.

“Willawong is one of Brisbane’s most tightly held industrial suburbs and is home to some of Australia’s largest companies,” he said.

“Daikin Australia had a five-year lease term in place with a five-year option, representing their commitment to the building and long term vision for the business, which gave comfort to the buyer.

“After the first inspection, it was clear to the buyer that the national tenant in place, the location and the quality of the building stood out in comparison to other investments .”

*Approximately.